Lanco Infratech Ltd won a bid to acquire the largest operational thermal coal mines in Western Australia, owned by Griffin Coal Mining Co. Pty Ltd, for an undisclosed amount. Griffin Coal is a unit of the Griffin Group, an energy-to-cattle company.
Apart from fuel security for its power generation capacities in India, the acquisition of Australian coal mines gives Lanco an opportunity to participate in the burgeoning natural resources trading market. The company expects to complete the acquisition in a couple of months. The acquisition will be first met through bridge financing, which will be converted later into long-term financing.”
The coal mines, based out of Collie in Western Australia, currently produce over 4 million tonnes per annum (mtpa). The mining tenements contain over 1.1 billion tonnes of thermal coal resources. The coal production capacity at Griffin mine can be ramped up to more than 15 mtpa once we develop evacuation infrastructure. The ramping up of coal capacities will be done over the next three to four years.crackcrack
Company Name | CMP |
---|---|
Larsen & Toubro | 3602.30 |
Rail Vikas Nigam | 289.85 |
KEC International | 728.30 |
Kalpataru Projects | 1179.00 |
NCC | 249.40 |
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