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Article: Coal SPV launched to acquire overseas assets, to invest $5 bn.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- November 29, 2007
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Coal SPV launched to acquire overseas assets, to invest $5 bn
New Delhi, Nov 29 (PTI) -- Coal Ventures International, the joint entity created by five state-run companies to acquire overseas coal assets, plans to invest about five billion dollars over the next few years to secure fuel supplies.
The new entity, which was launched today, is also seeking to rope in venture capitalists as well as private equity players and is even open to invite foreign firms to mop up additional resources, if required.
"The SPV (special purpose vehicle) formed by leading PSUs like SAIL, RINL, NMDC, CIL and NTPC for acquiring coal assets abroad was christened today ...