ADAG firm Reliance Power today said it will buy two Indonesian coal companies through its unit Reliance Coal Resources.
Reliance Coal Resources Ltd has entered into share purchase agreements with two Indonesian coal firms that own three coal mines there, Reliance Power said in a filing to the Bombay Stock Exchange.
However, the company did not disclose the financial details of the transaction.
The coal from Indonesia will be used for the Krishnapatnam ultra mega power project and other power projects of Reliance Power, the filing added.
Krishnapatnam ultra mega power project is a 4,000-MW supercritical coal fired power generation facility.
Reliance Power share was trading at Rs 154.50, up 1.48 per cent on the BSE.