#1
13th April 2016, 02:41 PM
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Coal India Videsh Limited
Hello sir, I am Rajan Das. I am from Mumbai. I want you to help me by giving me some information about the Coal India Coal Videsh limited. Can you tell why it was formed? Tell me about its aims.
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#2
13th April 2016, 02:42 PM
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Re: Coal India Videsh Limited
As you have asked about the Coal India Coal Videsh limited, I am giving you information about it, check below for the details Coal Videsh” was formed with the intent of enhancing the energy security of the nation. CIL is pursuing acquisition of Coal assets abroad through Coal Videsh. CIL has been making diligent efforts to acquire mines abroad through Coal Videsh division by taking up equity stakes in working mines or green field projects on production sharing basis. Through this venture, CIL also envisages to imbibe “Transnational” competence in coal business and transform itself into a global energy company. CIL has established a joint venture company ICVL, with NTPC, SAIL, RINL and NMDC for acquisition of metallurgical and thermal coal assets out side India. Coal India already has a presence in Tete province in Mozambique where exploration in 2 coal blocks is in progress. Coal India Limited is pursuing a strategy for expansion of its international business by: –Making equity investment in brown-field and green-field coal mining projects abroad. –Initiating the process of selecting the Coal companies as prospective strategic partners for it’s international operation. –Evaluating proposal for acquisition of coal assets in Australia, Indonesia and USA and has commenced the due diligence process. –Earmarking Rs 60,000 million for the acquisition of international coal assets. CIL intends to enter into a long term off-take arrangements for import of coal into India. –RFQ ( Request for Qualification) has been floated and responses are currently being examined |