Cement India to Buy Indonesian Coal Mines

< P > < FONT face = Verdana > India Cement Ltd will buy Indonesian coal mines for $20 million.

< P > < FONT face = Verdana > Company officials said that the acquisition will be profitable through an internal equity investment, the results of which will be announced in the second quarter of 2010.

< P > < FONT face = Verdana > India Cement expects to import coal from the mine after six months next year, with the company planning to mine and import 40,000-50,000 tonnes of coal per month.

< P > < FONT face = Verdana > In the last quarter, 60% of India Cement's coal was imported at a price of $83 per ton, and 40% was obtained from the domestic Singrani coal market.

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