GMR Energy takes 30% stake in Indonesian coal mine
GMR Energy, a subsidiary of GMR Infrastructure, will buy a 30% stake in Indonesia’s T Golden Energy Mines for $450-550 million. The agreement includes an off-take clause that guarantees the Indian firm coal supplies rising to 10 million metric tons per year over the next 25 years.
T Golden Energy Mines, which is owned by Sinar Mas Group, has coal reserves of more than 860 million metric tons and coal resources of 1.9 billion metric tons, according to GMR. "The off-take agreement...
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