Emmsons International Ltd has informed that the Company has signed an MOU with Dubai based ETA Star Group to form a Joint Venture for Coal Mining operations in Indonesia. The joint venture Company, hence established in Jakarta (Indonesia) under the name of STAR EMMSONS RESOURCES is in the process of acquiring coal mines in Kalimantan Province of Indonesia, and hopes to commence in-house production of coal in the coming months.
ETA STAR GROUP, a conglomerate with 4 Billion Dollar turnover, is planning to set up 1200MW (600 X 2), coal based power plants in South India. This power generation project of ETASTAR GROUP is estimated to have an investment of over Rs 6000 Crores, and will require over 5 million tons of imported coal.
The J. V. operations under the flagship Company STAR EMMSONS RESOURCES, are an important step of taking forward the plans of leveraging coal supplies for the IPPs through imported coal.
ETA and Emmsons are both trading imported coal from Indonesia, South Africa, China and other African Countries. However, an initiative for acquisition of coal mines, under the present scenario of huge requirements of imported coal in India, is the need of the hour.
The Company is confident that collaboration with a large conglomerate like ETA STAR GROUP will indeed enhance Companys operations and growth plans of global expansions. |
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