Aug13,2011 | source PTI
Adani Enterprises Limited (AEL), flagship company of Adani group, today said it has formed a joint venture with Rajasthan state utility for developing
Parsa and Kante Basan coal blocks there, having estimated reserves of 450 MT.
AEL has formed a joint venture company -- Parsa Kante Collieries (PKC) -- with the Rajasthan Rajya Vidyut Utpadan Nigam (RRVUN). The Adani group holds 74% stake in the JV, while RRVUN has the balance.
"We shall be providing end-to-end solutions for development of Parsa and Kante Basan coal blocks which have estimated reserves of 450 MT and combined peak production of 15 MMTPA," Adani group CFO Devang Desai told reporters.
"We have just got the first phase of clearance, work has begun... we are in the process of conducting the requisite studies. Our expectation is that mining operations shall commence from 2012," he said. The mining agreement is valid for the period of 30 years from the date of signing, a company statement said.
"We have signed contracts with SMEs for 110 MT of coal supply," Desai said. Adani group owns mining and development rights or 130 MT of coal mining in India. The group owns mines in Indonesia and Australia, a company statement said.
Parsa and Kante Basan coal blocks there, having estimated reserves of 450 MT.
AEL has formed a joint venture company -- Parsa Kante Collieries (PKC) -- with the Rajasthan Rajya Vidyut Utpadan Nigam (RRVUN). The Adani group holds 74% stake in the JV, while RRVUN has the balance.
"We shall be providing end-to-end solutions for development of Parsa and Kante Basan coal blocks which have estimated reserves of 450 MT and combined peak production of 15 MMTPA," Adani group CFO Devang Desai told reporters.
"We have just got the first phase of clearance, work has begun... we are in the process of conducting the requisite studies. Our expectation is that mining operations shall commence from 2012," he said. The mining agreement is valid for the period of 30 years from the date of signing, a company statement said.
"We have signed contracts with SMEs for 110 MT of coal supply," Desai said. Adani group owns mining and development rights or 130 MT of coal mining in India. The group owns mines in Indonesia and Australia, a company statement said.
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