Invites expression of interest for selecting consultants
Coal India Ltd (CIL), on Wednesday, invited expression of interest for selecting consultants who will help it register a wholly-owned subsidiary company in South Africa.
MoU
This marks the revival of the nearly year-old proposal to set up a coal-mining joint venture in South Africa.
CIL has already made its plans known to acquire majority stakes in South African coal mines. As part of its plan to widen its production base, Coal India had signed a Memorandum of Understanding with the provincial government of Limpopo in South Africa last year for jointly identifying, exploring and developing coal mines through a joint venture with a state-owned company.
The matter had got held up on account of various factors, including virtual vacancy that CIL had had at the top. It did not have a chairman between March 2011 and April 2012 with the incumbents holding temporary charge.
“Coal India intends to select South Africa-based consultant(s) to assist its venture of formation of a wholly-owned subsidiary company and other associated jobs,” CIL said in the document.
Production
CIL, which accounts for more than 80 per cent of the domestic coal production, is now trying to jack up production levels. It had lost 26 million tonnes in 2011-12 due to seasonal factors such as monsoon.
