Coal India (CIL), the country’s largest coal producer, plans to invest up to $3 billlion in a coking coal mine, a steel plant and a sea port on Indonesia’s Kalimantan island, Central Kalimantan Governor, Agustin Teras Narang, said on Thursday.
On the sidelines of an infrastructure summit here, Narang said Coal India was expected to complete feasibility studies for the projects by June. “They (Coal India) would look after all the funds for the projects,” he said, adding the parties had signed a preliminary agreement on the matter earlier this year.
The lack of a regulatory framework on land acquisition in Indonesia, however, had jeopardised the fate of a number of projects, analysts and investors said during the three-day summit. Central Kalimantan province accounts for about 4.8 billion tonne of coal reserves, 40 per cent of which is estimated to be coking coal. Source: Sify.com
On the sidelines of an infrastructure summit here, Narang said Coal India was expected to complete feasibility studies for the projects by June. “They (Coal India) would look after all the funds for the projects,” he said, adding the parties had signed a preliminary agreement on the matter earlier this year.
The lack of a regulatory framework on land acquisition in Indonesia, however, had jeopardised the fate of a number of projects, analysts and investors said during the three-day summit. Central Kalimantan province accounts for about 4.8 billion tonne of coal reserves, 40 per cent of which is estimated to be coking coal. Source: Sify.com
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