CESC in talks to buy 40% in Indonesia mine

CESC Ltd is in talks to buy a 40% stake in an Indonesian coal mine, vice chairman Sanjeev Goenka said.

The 40% stake would give CESC access to 10 million tonne (mt) of coal over a period of seven years and the deal is likely to be finalised in the next 10 days, Goenka said.

“There is lot of activity that is going on in Indonesia and various other deals are being pursued... I won’t deny, but it’s premature now to give more details,” he said.

CESC is believed to be planning a greenfield mine in Indonesia, though Goenka refused to confirm this.