Tata Power interested in coal projects
Indian utility Tata Power Co Ltd is considering building power plants in Southeast Asia and is looking at mines in Indonesia though rising coal prices is making acquisitions expensive, its managing director said Reuters reported from Mumbai.
The company, India's oldest private power producer, is spending more than $6 billion to quadruple domestic capacity to 10,000 MW by 2013 from 2,300 MW.
"Instead of putting everything into India, we would be happy to expand overseas and look at Southeast Asia," Prasad Menon told Reuters in an interview on Friday.
Tata Power bought stakes in PT Bumi Resources’ Arutmin and Kaltim Prima Coal for $1.3 billion in March last year.
Tata expects to import 2 million tons of coal in 2008, mostly from Indonesia. "We will have to import about 2 million tons of coal this year. It will be imported mostly from Indonesia," said Amulya Charan, managing director of Tata Power Trading Co Ltd.
The company, India's oldest private power producer, is spending more than $6 billion to quadruple domestic capacity to 10,000 MW by 2013 from 2,300 MW.
"Instead of putting everything into India, we would be happy to expand overseas and look at Southeast Asia," Prasad Menon told Reuters in an interview on Friday.
Tata Power bought stakes in PT Bumi Resources’ Arutmin and Kaltim Prima Coal for $1.3 billion in March last year.
Tata expects to import 2 million tons of coal in 2008, mostly from Indonesia. "We will have to import about 2 million tons of coal this year. It will be imported mostly from Indonesia," said Amulya Charan, managing director of Tata Power Trading Co Ltd.