Monnet Ispat and Energy is planning to purchase a majority stake at a coal mine in Colombia to feed its steel plant in India. This mine is currently producing 50,000 tonnes of coal and estimated to have 25 mt reserves. It aims to seal the deal in a month. Monnet Ispat is scouting for coal assets overseas.
Monnet Ispat and Energy was incorporated on February 1, 1990. A Monnet group company, it is engaged in the business of sponge iron, steel ingot & billets and coal mining.