Reliance Power Ltd. has announced that it has acquired three coal mines from Indonesia's Sugico Group. It will be combined with reserves of two billion tons. This has been another success for the Indian company to acquire an international company in this quarter.

A senior Reliance Power executive has informed that the company is looking forward to set up its ultra mega power plant at Krishnapatnam in southern India.

Moreover, the acquisition will be done by the Reliance Coal Resources Ltd.  Reliance Coal Resources Ltd. has signed an agreement with the foreign company, Sugico.

As per the deal the Indian company will acquire the entire share capital of these two companies. The companies are PT Srivijaya Bintangtiga Energi and PT Bryayan Bintangtiga Energi.

However, the value of this deal has not been disclosed yet. But as per secrete sources, it has been found out that Reliance Power has paid upfront amount of 5 billion rupees to the firm. This amount is for the purchase of three coal mines. The total deal value is expected to be $1.6 billion.