Tata to buy coal from Indonesian miner in FY23

20 Jun 2022 CW Team

Tata Power Company Limited (TPCL) aims to buy coal worth around Rs 12,000 crore from their Indonesian miner this fiscal year, the deal will give TPCL the fuel without any “interruptions”.

Tata Power Company Limited (TPCL) owns a 30% stake in the mine and as the order would be a related-party transaction, it has sought the approval of shareholders in the forthcoming meeting post its audit committee cleared the agreement. The coal has been priced on an arm’s length basis and the transaction is valued by an independent valuer.

Coastal Gujarat Power, merged with Tata Power in April. In 2008, it signed an agreement with PT Kaltim Prima Coal (KPC) for long-term coal supply. The agreement comprises all amendments to source coal from KPC on the basis of price linked to the Indonesian government notified benchmark.

Tata Power in a notice to its shareholders said that the transactions between the two companies will help smoothen business operations for both the companies and ensure consistent flow of desired quality as well as quantity of goods and services without any interruptions which will lead to generation of revenue and business for both the companies for their business requirements.

The tenure of the coal sales agreement is valid till financial year 2032-33 (FY33) but the shareholders’ approval has been sought only for the ongoing financial year, it added.

Image Source

Also read: Govt to increase coal stock at power plants to 40 mt during monsoon

Real Estate

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..