Coal India invites bids for acquiring assets abroad
Coal India Ltd today invited bids from bankers and interested parties for acquiring assets abroad, a move that would help the world’s largest dry-fuel producer meet shortages as it battles problems in enhancing output. “Coal India Seeks Expression of Interest (EoI) from investment bankers, owners/owner’s representatives for acquisition of coal assets abroad,” CIL said. The bids have been invited by Coal India Videsh, set up with the intent of enhancing the nation’s energy security. Coal Minister Sriprakash Jaiswal had said recently that acquisition of coal mines overseas should be done in an aggressive manner to meet the country’s energy requirements. In order to tide over the fossil fuel shortages, the government is also proposing to import coal and pooling domestic and international prices.