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NMDC-Monnet joint venture to acquire coal blocks

09 Jun 2010 Evaluate

NMDC is forming a 51:49 joint venture with Monnet Ispat & Energy to acquire and develop coal blocks in India. NMDC will have a majority stake in the JV company, which will bid for coal mines with reserves of 200 to 300 million tonne.

As part of the agreement, Monnet will provide technology and expertise for coal mining. The coal will either be sold commercially or be used internally for power projects that the JV may intend to set up in future.

The new venture is expected to be set up in the next few months and investments in the company will depend on the size of the coal mine to be developed. crackcrack
Peers
Company Name CMP
Coal India 425.60
NMDC 82.45
Ashapura Minechem 542.60
Sandur Manganese 190.35
GMDC 575.20
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