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Saturday, February 5, 2011
Mercator to invest Rs 2.5 bn in Indonesian coal mine
Mumbai-basedcompany Mercator Lines, plans to invest about 2-2.5 billion in developing a coal mine in the Batuah region of Kalimantan province in Indonesia. as part of its strategy to increase its presence in the high-margin mining industry. The company will form a joint venture with an PT United Coal of Indonesia to develop the infrastructure for the mining project. Mercator so far owns four coal mines in Indonesia with total reserves of about 70 million tones. The company plans to raise the total deposits capacity to 100 million tonnes.
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