Millennium Post

Coal India to finalise bankers for overseas mining biz soon

State-run Coal India Limited (CIL) will soon finalise merchant bankers who will assist the PSU firm in its plans to invest in prospective coal business opportunities overseas.

‘Coal India will finalise the merchant bankers soon,’ a source said.
Coal India Ltd had earlier invited expression of interest (EoI) for empanelment of internationally-reputed merchant bankers/investor banker for facilitating the PSU to set up thermal coal mining business overseas. The government had earlier said that CIL has formed a sub-committee to monitor the proposals with regard to foreign investments. CIL has proposed an ad-hoc provision of Rs 35,000 crore for acquisition and development of mines abroad by 2017.
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