India's Essar Group seeks more coal, iron ore resources abroad

MUMBAI (Scrap Monster): India’s Essar Group has decided to acquire more coal and iron ore resources abroad to meet the domestic demand in India.

Essar Group is primarily aiming at countries like Indonesia, Australia and Africa to explore more resources to boost the company’s supply.

Indian companies including Essar, Tata Power Co. and Reliance Power Ltd. are also expanding overseas to meet energy needs to support growth in Asia’s second-fastest growing major economy.

Last year, Essar Group agreed to buy the Aries coal mines in Indonesia’s East Kalimantan province to secure supplies for its power plants, the Mumbai-based company said in March 2010, read more on this