The Economic Times quotes Reliance chief Anil Ambani saying to shareholders at the company’s annual general meeting: “India has ambitious plans of doubling its coal production from 450 million tonnes to 900 million tonnes.
“We have also decided to exit the coal business in Indonesia and we hope to complete transactions [in this regard] in the course of this year.”
The company bought the three Indonesian coal mine in 2008 through its subsidiary Reliance Coal Resources.
The three mines in South Sumatra and spread over 40,000 hectares are understood to have total reserves of 2 billion tonnes.
Reliance has two coal mines in India. They are located in Sasan in Madhya Pradesh.
According to The Economic Times they have reserves of just 20 million tonnes.
