INDIA PLOTS SOVEREIGN WEALTH FUND TO FINANCE OVERSEAS MINE PURCHASES
May 1st, 2012
BY RAGHAVENDRA VERMA, IN NEW DELHI
INDIA is planning to create a special fund to enable its dominant state-owned miner to acquire overseas coal mines to compensate for severe domestic coal shortages that are hurting the country's power, steel and other industrial sectors.
Coal minister Sriprakash Jaiswal told a recent Round Table Conference on Overseas Coal Acquisition: Problems and Prospects, organised by the Confederation of Indian Industry on Sunday (May 6) that, "in order to provide financial support to Coal India for acquiring large assets and for ...
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