Mercator Lines has acquired 50% stake in a coal mine in Indonesia's Kalimanthan province for about $30 million (Rs 145 crore). It has also planned to list its coal division in London in one year. The Indonesia's East Kalimanthan, has reserves of 60 million tonne. The company is looking at a production of 3 million tonne coal in a year which it will sell. The scheduled production is likely to commence from fourth quarter of the current fiscal.
The shipping firm has diversified interests ranging from shipping, coal, dredging and offshore oil and gas services and owns coal mines in Indonesia and Mozambique. The group owns and operates a fleet of 18 dry carriers, eight tankers and four dredgers with an aggregate capacity of about 2.41 million DWT.
Company Name | CMP |
---|---|
Shipping Corpn. | 258.00 |
GE Shipping | 1221.00 |
Dredging Corp | 879.00 |
Seamec | 1380.00 |
Shreyas Shipping | 320.00 |
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