Tata Power has signed a long-term coal supply agreement with Indonesia-based PT Antang Gunung Meratus (AGM). Tata Power already has 30 per cent equity stake in two major Indonesian thermal coal producers, PT Kaltim Prima Coal and PT Arutmin Indonesia, and a related trading company owned by PT Bumi Resources. As part of this, Tata Power has an off-take agreement for purchase of about 10 million tonnes of coal a year. AGM is a 100 per cent subsidiary of the PT Baramulti Sukses Sarana (BSSR).

Further, Tata Power, through its 100 per cent subsidiary Khopoli Investments, has also entered into an agreement which gives Khopoli an option, to take up to 26 per cent stake in BSSR. Mr Anil Sardana, Managing Director, Tata Power said, “As a strategy to support our growth agenda, we have signed this coal supply agreement. It would support our upcoming power projects based on imported coal to be developed over the next five years.”

(This article was published on July 20, 2012)
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