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The consortium of five public-sector companies International Coal Ventures Ltd plans acquisitions of coal assets in Australia, Indonesia, Mozambique, the US and Colombia. “Proposals received from these countries are under review.
ICVL is also reviewing several proposals for acquiring coal properties in Australia with a view to examine their suitability and viability. Due diligence is in the progress,” said the Minister of State for Coal, Mr Pratik Prakash Bapu Patil, in a reply to a question asked in the Lok Sabha. The Minister added that the coal sourced from these assets, after acquisition, will be primarily used by the promoters of ICVL. SAIL and Coal India both have a 28 per cent stake in the company, while Rashtriya Ispat Nigam Ltd, NMDC and NTPC have a 14 per cent stake each.
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