Gujarat NRE Coke has received an approval to issue securities (including FCCBs) for an amount not exceeding $100 million or Rs 550 crores, whichever is higher subject to the approval of shareholders. The company also decided to make further investment’s/loans and/or give guarantees/security (ies) for an amount not exceeding $ 375 million or Rs 2,050 crores, whichever is higher. The board of company at its meeting held on April 29, 2013 has approved for the same.
Gujarat NRE Coke is the only Indian company with coking coal mines in Australia having over 650 million tonnes of Coking Coal resources with excellent coking properties. The coal mines are owned through its subsidiary- Gujarat NRE Coking Coal, listed on the ASX.
