Want foreign coal? Adani asks Coal India
The largest coal importer of India, Adani Enterprises has been involved in talks with Coal India Ltd (CIL) run by state government for a long term supply agreement.
If the deal completes successfully the Ahmadabad based company Adani group will supply coal to the CIL from its Indonesian and Australian mines. As per the agreement the coal for the CIL will be supplied by the Adani Infrastructure including shipping and the pricing details are yet to be finalized by both the firms.
The Adani group has also offered equity participation for its Australian project to the CIL, which is a great offer from the coal importer.
Adani is operating coal mines in Australia and Indonesia with an estimated production of 60 million tones and 7 million tons coal in a year respectively.
Adani has bought the coal assets of an Australian firm named Linc Energy with an exchange of 2.9 billion Australian dollars and royalty deal. The production from the Australian mines will be delayed but the coal from the Indonesian mines of the company can be delivered in India faster than the Australian mines.