Over the next seven years, 50 percent of India's coal will come from foreign lands. A look at the implications of a $40 billion coal bill
Where Will We Get It From?
The 200 to 300 million tonnes that the country will need, can be imported from Indonesia, Africa and Australia. Essar Group recently did a $600 million buyout of US-based Trinity Coal. Tata Steel and Riversdale Mining are investing $270 million to develop the Benga Coal project in Mozambique. JSW Steel Ltd has said it may spend $500 million to buy coal mines overseas. Reliance Power has acquired coal mines in Indonesia and Tata Power and Adani Power will import coal from there. Coal and Oil group imports coal from many countries.(This story appears in the 16 April, 2010 issue of Forbes India. To visit our Archives, click here.)