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Kolkata, May 21 Ferro chrome, ferro manganese and silico manganese company Rohit Ferro-Tech Ltd (RFTL) has entered into a memorandum of understanding with the Pacific Samudra Perkasa Group of Indonesia to acquire 60 per cent of the “economic interest” in two coal mining companies in Indonesia through its wholly-owned subsidiary in Singapore named SKP Overseas Pte Ltd.

According to Mr Rohit Patni, Managing Director of RFTL, the “offtake agreement” envisages that 60 per cent of the coal mined by the two coal mining companies would be bought by RFTL to meet its own requirements of coking coal here in India. RFTL has production facilities at Bankura in West Bengal and Jajpur in Orissa.

Thermal coal from Indonesia would be procured to meet the requirements of RFTL’s 110-MW captive power plant that is expected to be commissioned by June 2009. RFTL will soon float a mining services company in Indonesia which will hold a long-term mining contractor agreement with the two Indonesian mining companies, Mr Patni said.

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