|
| Vedanta shortlisted for Zambian mine bid |
| BS Reporter / Mumbai Oct 30, 2008, 00:51 IST |
|
Vedanta Resources, London-based energy company Aldwych International and infrastructure firm Nava Bharat Ventures have been shortlisted by Zambia Consolidated Copper Mine Investment Holdings (ZCCM-IH) to develop and operate a coal mine and build a 400 mega watt thermal power plant in the African nation, sources said.
"ZCCM-IH advises that the three pre-qualified bidders will now be requested to submit their best and final offers for consideration," the ZCCM-IH said in a statement. The entire process of allotting the rights for the Maamba Collieries mines and the power plant is expected to be completed by the end of this financial year.
The power plant will supply electricity to copper mines in the country. The selected bidder will invest in the Collieries as a strategic equity partner," sources added.
Anil Agarwal-controlled Vedanta is the majority owner of the Konkola Copper Mines (KCM), Zambia's largest copper producer. The two Indian firms were selected from 10 Zambian and foreign firms shortlisted initially.
Maamba Collieries, owned by ZCCM-IH, has 78.2 million tonnes of coal reserves, which will last more than 70 years. The mine has a capacity to produce up to 1 million tonnes annually.
The mine produced around 600,000 tonnes of coal during peak output in the 1980s. While the power demand in the mineral-rich Zambia rose due to new mines and industrial expansion, electricity supply remained erratic.
ZCCM-IH had issued an international tender in 2007 asking firms to submit bids for the revamping of Maamba Collieries operations and also for the construction of a coal-fired power station that would supply electricity to the country's vast copper and cobalt mines.
In April, ZCCM-IH said it would inject $12 million into operations of Maamba Collieries as it sought a permanent equity partner.
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
Content Guide
