Patel Engineering scouts for overseas coal mines
Patel Engineering scouts for overseas coal mines Mumbai-based engineering and construction company Patel Engineering is looking at acquiring large coalmines in Indonesia and Africa, reports Business Line. The company however has been tightlipped on the issue. Patel Engineering had placed a postal ballot to raise a capital of about Rs 13.44 billion for the acquisition purpose. Shares of the company closed down Rs 3.75, or 0 .83%, at Rs 448.95. The total volume of shares traded at the BSE was 50,426. (Thursday)
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The company is also diversifying into thermal and hydropower projects, and plans to bid for power projects in the range of 100 MW and 500 MW.
