JSW Energy in race for Australia’s Hancock Coal

09 Feb 2011

1

The Sajjan Jindal-run JSW Energy is likely to join the race with the Essar Group, Hyderabad-based GVK and Lanco Infratech to bid for the coal mines that have been put on the block by Australian coal mining company Hancock Coal, says a report.

Hancock Coal is seeking a buyer for two of its coal mines, Alpha Coal and Kevin's Corner, which are located in Galilee Basin in the coal-rich Queensland.

The combined reserves of both coal mines can be as high as 7.6 billion tonnes of thermal coal which was used to produce electricity.

The life of these mines is almost 30 years.

Citing unnamed sources, Business Standard today said JSW's bid will have to match the six bids which have already been accepted by the Hancock management after a first round of review.

The bids, including that of GVK and Essar, are close to $2 billion each, the report said.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more