Adani Enterprises in Talks With Coal India for Long Term Supplies

Adani Enterprises Ltd., controlled by billionaire Gautam Adani, is currently in talks with the state run Coal India Limited for a long term supply agreement of foreign coal.

The Ahmedabad based group would provide coal to India from its Australian and Indonesian mines if the talks are successful with Coal India Limited.

The coal supplied by the Adani infrastructure will be for outright purchase by Coal India. Currently the group has a production capacity of 7 million tonnes coal in Indonesia and 60 million tonnes in Australia on a yearly basis. The company has also offered an equity participation to Coal India in its Australian project.

Gautam Adani said that his company was looking to make more infrastructure investments beyond the $7 billion commitment to its Queensland rail, port and coal mine project. He said that the company was not satisfied with the August purchase of Linc Energy's Galilee tenement and was scouting for more investment opportunities.