News Update

Indonesia will provide fiscal incentives and support in land acquisition for Anil Dhirubhai Ambani group's $4.5-billion investment in coal mines and related infrastructure that will deliver 50 million tonnes of coal a year. The company will sign MoUs with provincial authorities of Indonesia to facilitate the projects that also include a 2,000 MW power plant. The agreements would speed up various approvals and acquisition of land for the 200-km railway line and port that will help ship coal for Reliance Power's Krishnapatnam ultra mega power project in Andhra Pradesh. Industry sources said that at current prices, coal costs would be a third less than imported fuel. With reserves of 2 billion tonnes of coal, the mines in Sumatra will initially start producing at the rate of 7/8 million tonnes a year and in another year and a half, annual output would rise to 25 million tonnes. The project, along with the power plant involves an investment of $3.5 billion. Another project at Jambi will deliver an equivalent amount of coal but the planned investment is lower as the project does not include a power station. The output from the projects can help generate 12,000 MW of power.  Read full story...