India's second largest private shipping firm, Mercator Lines, expects to acquire a coal mine in Indonesia in the next one week. The likely resources of the new coal mine is about 60 million tones and the deal will be valued roughly in the region of $25-$30 million. The company is also planning to list its coal division overseas.
Recently, the company’s Singapore subsidiary had successfully commissioned the Floating Production Unit (FPU) project with the production of oil from the EBOK field. The company had signed a 7 year contract to charter out Floating Production Unit to Afren PLC, UK at their EBOK field in Nigeria.
Mercator Lines is India’s second largest private sector shipping company. It is engaged in providing sea-borne transportation services. The company has diversified its business into coal mining.
Company Name | CMP |
---|---|
Shipping Corpn. | 258.00 |
GE Shipping | 1221.00 |
Dredging Corp | 879.00 |
Seamec | 1380.00 |
Shreyas Shipping | 320.00 |
View more.. |