India Spice Energy in 6 million T/yr coal deal with PTBA

India’s Spice Energy has signed a deal with Indonesian miner PT Tambang Batubara Bukit Asam Tbk PTBA.JK to buy 6 million tonnes of coal a year from 2011 for its proposed 1,000 MW thermal power plant in southern India, its head said on Thursday.

“We have an agreement with PTBA for 6 million tonnes a year for 20 years,” Ravi Chilukuri, chief executive of Spice Energy told Reuters in an interview.

He said his group’s joint venture with NMDC Ltd (NMDC.BO: Quote, Profile, Research, Stock Buzz) would soon finalise a deal with the Armenian government to buy 70 percent stakes in two iron ore mines.

Source: Reuters 10 July 2008

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