Indian utility may expand into shipping
India’s Tata Power Co., which announced Wednesday that it has completed acquisition of a 30 percent stake in Indonesian coal companies owned by PT Bumi Resources, has said it may buy vessels or a stake in a shipping company.
As part of its agreement with the Indonesian coal companies, Tata is entitled to purchase up to 10.1 million tons of thermal coal per year through 2021, with an option for extension.
Tata said the coal deal would support plans to build power plants capable of generating 7,000 megawatts over the next five years. Those plants will need about 21 million tons of imported coal.
Indian utility may expand into shipping
