Coal India Limited (Coal India) is the biggest coal producer worldwide, owned by the government of India (see paragraph 3.9). At the end of March 2010, Coal India operated 471 mines in 21 major coalfields across eight states in India, producing 403.7 million tonnes of coal.
Coal India has gained board approval for 45 expansion projects in India with an aggregate capacity addition of 185 million tonnes involving a capital expenditure of Rs 110 billion (US$ 2.44 billion). 25 projects with an estimated capacity of 47.5 million tonnes and capital expenditure of Rs 33.9 billion (US$ 753 million) are expected to become operational at the latest by end 2012. 20 projects with an estimated capacity of 33.3 million tonnes and capital expenditure of Rs 25.7 billion (US$ 571 million) are expected to become operational between 2013 and 2018. New projects, which are in various stages of development, will add a capacity of 132 million tonnes.
In addition, the company announced in April 2010 that it was looking to make acquisitions in Australia, Indonesia and the United States. Coal India has budgeted US$ 1.7 billion to buy assets in those countries. According to Chairman Partha Bhattacharyya, the company aims to get at least 50 million tons of coal per year from overseas assets in the next five to six years. The company is finding it more attractive to expand overseas because of environmental concerns domestically. Various projects are stuck due to delays in receiving environmental and forest clearances.
CIL is currently in talks with three foreign coal producers - Peabody Energy and Massey Energy from the United States and Novem/Sinarma from Indonesia - for a possible partnership with an investment of around US$ 2 billion. In November 2010, it was announced that Coal India was in the advanced stages of negotiations for a US$ 1 billion deal with Peabody Energy that would give the company a stake in four Australian coal mines.
Coal India is owned by the government of India. With the following financial stakeholders:
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Shareholders 92.5 %
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Joint-venture partners 0.1 %
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Banks 7.4 %
700001 Kolkata West Bengal
India
Director
