Tata Power is looking to acquire coal assets in th
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Posted On: 10/28/2014 9:30:13 AM
Tata Power is looking to acquire coal assets in the US, Canada and Colombia
Friday , October 24 , 2014
http://www.telegraphindia.com:8080/1141024/js...Evi6xbUwuQ
Tata Power sets sights on coal assets abroad
R. SURYAMURTHY
New Delhi, Oct. 23: Tata Power is looking to acquire coal assets in the US, Canada and Colombia as surging energy supplies from shale gas have made the fossil fuel cheaper.
“The company is seeking coal assets in the US, Canada and Colombia as prices of the fuel drop amid surging shale gas supplies in North America. Initial purchase talks are on for several mines,” Anil Sardana, managing director and CEO of Tata Power, told The Telegraph.
Cheap coal may help Tata Power to turn its plant profitable following the purchase of mines in Indonesia turning sour after they pegged their coal to global benchmark prices.
The US power generators have turned to shale gas freeing up coal reserves. Shale extraction uses hydraulic fracturing, which involves blasting water, sand and chemicals underground to release trapped oil and gas.
Sardana said, “A few consignments have been sourced from Colombia and the USA. The coal from these mines will be used for generation. This is a part of Tata Power’s initiative to ensure fuel security for the country.”
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November 11, 2013
http://www.otcmarkets.com/edgar/GetFilingHtml...ID=9603772
On November 11, 2013, New Colombia Resources, Inc. entered into a Non-Disclosure Agreement with Tata Power Company Limited, India’s largest integrated power company. The agreement is to engage in discussions to evaluate a possible business relationship.
www.tatapower.com
Friday , October 24 , 2014
http://www.telegraphindia.com:8080/1141024/js...Evi6xbUwuQ
Tata Power sets sights on coal assets abroad
R. SURYAMURTHY
New Delhi, Oct. 23: Tata Power is looking to acquire coal assets in the US, Canada and Colombia as surging energy supplies from shale gas have made the fossil fuel cheaper.
“The company is seeking coal assets in the US, Canada and Colombia as prices of the fuel drop amid surging shale gas supplies in North America. Initial purchase talks are on for several mines,” Anil Sardana, managing director and CEO of Tata Power, told The Telegraph.
Cheap coal may help Tata Power to turn its plant profitable following the purchase of mines in Indonesia turning sour after they pegged their coal to global benchmark prices.
The US power generators have turned to shale gas freeing up coal reserves. Shale extraction uses hydraulic fracturing, which involves blasting water, sand and chemicals underground to release trapped oil and gas.
Sardana said, “A few consignments have been sourced from Colombia and the USA. The coal from these mines will be used for generation. This is a part of Tata Power’s initiative to ensure fuel security for the country.”
…
November 11, 2013
http://www.otcmarkets.com/edgar/GetFilingHtml...ID=9603772
On November 11, 2013, New Colombia Resources, Inc. entered into a Non-Disclosure Agreement with Tata Power Company Limited, India’s largest integrated power company. The agreement is to engage in discussions to evaluate a possible business relationship.
www.tatapower.com
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