Bombay Suburban Electricity Supply (BSES) has tied up with a consortium of US-based companies and an NRI to launch the countrys first private coal washing plant at Korba in Madhya Pradesh.
``The Bilaspur washery will have a capacity to wash 500 tonnes of raw coal and will be able to deliver 2 million tonnes of clean coal to BSES for two power plants in Maharashtra. BSES Managing Director R V Shahi told reporters.
The $ 16 million washery is expected to be completed in two years. While BSES and US-based firm Spectrum will hold 35 per cent equity each, 14 per cent of the equity will be shared by another US-based firm, CLI Corporation, and non-resident Indians (NRIs).
Financial institutions and others will hold 16 per cent of the stake.
The US Agency for Interna-tional Development (USAID) will contribute $2.6 million for the project.