Mumbai: Tata Power is evaluating chances to make another overseas acquisition of a coal mine. The company was mulling to zero in on smaller mines. The company is planning the fresh acquisition to minimise the risk from the supply of 2 million tonnes of coal from Indonesia-based mines for its ultra mega power project (UMPP) at Mundra. The company will assume a judicious approach while making the mine acquisition given the current soar in coal prices and the rise in valuation of coal mines. Tata Power is implementing the 4,000 mw UMMP at Mundra via Coastal Gujarat Power, a special purpose vehicle.
In April 2007, Tata Power had bought 30 per cent stake in two coal mines in Indonesia-based PT Kaltim Prima Coal and PT Arutmin Indonesia to ensure adequate supply of the key input for its nearly 7,000 mw capacity expansion currently underway. Tata Power said it would disinvest its holdings or sell assets to fund expansion activities, pegged to cost Rs 6,000 crore. By 2013, the company will mop up its power generation capacity to 12,861 mw. Of the Rs 6,000 crore, Rs 2,900 crore would come from internal accruals and Rs 1,900 crore will be mopped up by issuing warrants and preferential shares.
In April 2007, Tata Power had bought 30 per cent stake in two coal mines in Indonesia-based PT Kaltim Prima Coal and PT Arutmin Indonesia to ensure adequate supply of the key input for its nearly 7,000 mw capacity expansion currently underway. Tata Power said it would disinvest its holdings or sell assets to fund expansion activities, pegged to cost Rs 6,000 crore. By 2013, the company will mop up its power generation capacity to 12,861 mw. Of the Rs 6,000 crore, Rs 2,900 crore would come from internal accruals and Rs 1,900 crore will be mopped up by issuing warrants and preferential shares.
No comments:
Post a Comment