Essar Group acquires Indonesian coal mine to fuel thermal projects

摘要

The Essar Group, a multinational conglomerate engaged in steel, energy, power, communications, shipping, ports and logistics besides construction has been on an overseas acquisition binge periodically particularly in steel and coal. In its ongoing quest for coal assets in the overseas market to fuel its proposed thermal power projects in India, the group, in less than a month after it acquired a US-based coal mine, has signed an agreement to takeover Indonesia-based Aries coal mines for about 900 crore rupees.