Lanco Infratech is reportedly in discussion with PT Truba Alam Manunggal, Indonesia based engineering, procurement and construction services provider, to acquire its thermal coal mine in South Sumatra for $80-90 million (approx Rs 392-441 crore).
The talks, if successful, will give Lanco access to 140 million tonne of coal reserves, which will help meet its raw material requirement for a proposed coal based power project in Karnataka. The acquisition is also likely to help the company optimise the overall cost of producing power.
Source : ProjectsToday
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