Reliance Energy scouting for coal mines
Reliance Energy scouting for coal mines Reliance Energy is planning to increase its capacity to 20,000 MW over the next five years, and is thereby scouting for coal mines abroad, reports NDTV. The company, eyeing stakes in Australian, Indonesian and African coal mines, is also evaluating options to sign long-term contracts with coal miners. The strategy behind acquiring mines is to ensure regular supply of coal and the company is therefore targeting coal mines with high calorific value to maximize investment returns.
Availability of fuel especially coal is a big constraint for the company.
>The Anil Ambani group company may consider raising funds via debt for coal mine acquisition.
Shares of the company gained Rs 41.6, or 4.4% to end at Rs 987.70. The total volume of shares traded was 1,126,736 at the BSE. (Thursday).
