India wants to buy coal mines in Mozambique

12 December 2006

New Delhi, India, 12 Dec – The Indian government said Monday that Mozambique was included in a list of countries in which it plans to buy oil mines in order to make up for a lack of the product in its domestic market.

Speaking in New Delhi, the capital of India, the Minister for Coal, Dasai Narayan Rao, said that along with Mozambique, the countries most likely to receive Indian investment were Zimbabwe, Indonesia and Bangladesh.

“The heads of the (Indian) companies in the steel, cement and power sectors will soon be able to rest easy about coal, as the government plans to buy coal miens abroad,” the minister said.

“We have selected Mozambique, Zimbabwe, Indonesia and Bangladesh to buy coal mines,” he added.

Dasai Rao estimated that 35 million tons of coal needed to be imported during the tax year ending in March 2007. (macauhub)