course bg
EduPristine>Blog>Coal India examining proposal to register subsidiary in South Africa

Coal India examining proposal to register subsidiary in South Africa

December 24, 2014

State-owned, Coal India Ltd is scrutinizing a proposal to register a subsidiary that is wholly owned in South Africa to develop and acquire coal assets. Coal India has appointed Deloitte to advise on the regulatory framework there.

Piyush Goyal, coal and power minister furnished these details in a written reply to the Rajya Sabha.

Back in September 2011, Coal India had signed an MoU with the organization owned by the provincial government of Limpopo for the purposes of identification, development and operations of coal mines in the province.

The minister also said that discussions have been going on for implementation of various activities envisaged in the MoU.
Coal India had announced earlier that it has plans to form a panel of consultants which would help the PSU in acquiring, developing and operating coal mines overseas.

In order to tide over the fossil fuel shortages, the government is also planning to import coal.

In August 2009, Coal India Africana Limitada (CIAL), subsidiary of Coal India Ltd, won a 5-year licence for exploration and development of mines in Mozambique.
Two coal blocks – A1 and A2 – at Motaize, in Tete Province of Mozambique, are spread over 200 sq km.

About Author

avatar EduPristine

Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, it is one of the leading International Training providers for Finance Certifications like FRM®, CFA®, PRM®, Business Analytics, HR Analytics, Financial Modeling, and Operational Risk Modeling. EduPristine has conducted more than 500,000 man-hours of quality training in finance.


Interested in this topic?

Our counsellors will get in touch with you with more information about this topic.

* Mandatory Field

Post ID = 69097