CIL to acquire coal mines in South Africa
Amid the country facing acute coal shortages, Coal India (CIL) on Wednesday moved a step forward with its plans to acquire coal mines abroad by initiating the process of forming a subsidiary in South Africa.
The development follows CIL signing a pact with the Limpopo province of South Africa, for jointly identifying, exploring and developing coal mines.
The public sector firm on Wednesday invited bids for appointing consultants to help it form a wholly owned subsidiary in Africa.
“Coal India intends to select South Africa based consultant(s) to assist its venture of formation of a wholly-owned subsidiary company,” CIL said in the bids document.