Madhu Koneru MEC has Planning to Create a Partnership Strategy for India Mining Industry

MEC has Planning to Create a Partnership Strategy for India Mining Industry. The company’s executive vice-chairman Madhu Koneru said in a statement that “we see India as a key market for coal as the country continues to address its power requirements”.

“MEC would like to be a part of the Indian growth story rather than just a supplier of coal,” Koneru aded.

MEC has decided to adopt a partnership strategy for India wherein it is interested in working with IPPs by providing long-term assurance supply of coal from its mines in Indonesia.

MEC’s initiatives come at a time when Indian power producers are scouting globally to secure coal mines and have been facing problems in verifying the exact reserves as most assets are in remote provinces.

The high demand for coal and strong prices has affected supplies as miners in Australia, South Africa and Indonesia have insisted on price-escalation clauses, the statement said.

With thermal power plants being the backbone of the Indian energy sector and their requirement of quality coal being high, MEC expects itself to play an important role, the statement said.

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