SOURCE: Industrial Info Resources

Industrial Info Resources

January 28, 2011 05:10 ET

High-Grade Coal Mines Secured in Reliance Power's $5 Billion Indonesian Deal

JOHANNESBURG, SOUTH AFRICA--(Marketwire - January 28, 2011) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- Reliance Power (BSE:532939) (Mumbai, India) has been targeting a stake in Indonesia's coal and power sectors for some time. Reliance Power subsidiary, Reliance Coal Resources, signed two memoranda of understanding with the governments of Indonesia's South Sumatra and Jambi provinces for total investments of $5 billion, which will include coal mines, ports, power projects and rail lines. The mines will be developed by Reliance and technical partner North American Coal Corporation (Dallas, Texas), a subsidiary of NACCO Industries Incorporated (NYSE:NC) (Cleveland, Ohio).

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