Indian purchase of Griffin Coal will save 400 jobs in Australia...

[Kshitiz_The sky]

http://www.abc.net.au/rural/news/content/201012/s3094845.htm

An Indian infrastructure group is going to acquire the assets of collapsed Western Australian mining company Griffin Coal.

Griffin went into administration in January with debts of about $1 billion.

Administrators Korda Mentha signed an agreement with Lanco Infratech to sell the coal operations for an undisclosed amount.

The sale includes Griffin's Collie coal mines in the south-west of the state, but not the company's Bluewaters power stations.

Korda Mentha's Brian McMaster says Lanco is looking to expand Griffin's coal operations and will retain all 400 employees.

"They have power generation assets of their own in India, they have an export need for the coal and as a consequence they're going to look to quickly and rapidly develop an export strategy which will include growing the infrastructure both at the mine and at the port and also ultimately will lead to further jobs."

It's understood the deal is worth up to $850 million, making it one of India's biggest Australian investments.

 

[Hafizzz]

Why is India still using Coal ? Coal pollutes the world.

 

[shrivatsa]

well u don't know us evil yindoos.we are using it to increase global warming so that it may cause flood in Pakistan.

 

[xdrive]

Why is India still using Coal ? Coal pollutes the world.

And what does Pakistan fuel it's power plants with? Pixie dust?

 

[Bose-the great]

well u don't know us evil yindoos.we are using it to increase global warming so that it may cause flood in Pakistan.

Then we will have to pay another $25 million....

 

[Kyusuibu Honbu]

About 70% of our power generation is by thermal power plants and i don't see any change until our thorium based reactors are efficient/economical and safe.

So until then we must go with coal.

 

[Archie]

Why is India still using Coal ? Coal pollutes the world.

There are a thousand posts on that coal reserves of pakistan and how it can benefit the country
If u are so concerned about polution then you can ask why your country is trying to exploit thar coal reserve

While India has large coal reserves ourselve however around 70 % of it is of inferior quality which is good for making steel and for use by chemical industry but not for powerplants
majority of high grade goal mines in india are already under State control companies like Coal India Ltd and National Thermal Power Corporation
Private companies have to look at foreign source for there own requirement of high grade coal

 

[newdelhinsa]

India can gain heaps from Australia, not only cheaper fossil fuel but invalubale information on urban planning, traffic infrastructure, water management, recycling etc.