The high net-worth Essar group that had collaboration with Hutch to provide mobile services in India, is now interested in coal business. The group controlled by one of the most prestigious families of India, the Ruias is now interested in buying a coal mine from the famous Trinity coal in US. The deal is already into advanced stages of negotiations.

Essar is also into steel making and the purchase will assist in the supply of all the key raw materials needed for the steel making plant. It is expected that the price of the acquisition will be around 550 million dollars to 600 million dollars and the acquired plant would be producing around 200 million tones.

The acquisition means that now the Ruias will have a controlling stake in the US Company. This news was confirmed by the US based investment firm Denham Capital Management.

The coal would be utilized to feed the steel plant and iron operations of the Essar group in Algoma, Canada. Final stages of negotiations are going on for this deal.