The State-run miner Coal India Ltd. has decided to fund some of the overseas projects for its future business and capex purpose. Mr. Partha Bhattacharya, the Coal India Chairman, has informed that Coal India has short-listed five companies and assets from Australia, Indonesia and United States for possible acquisition.

The company has short-listed from 35 possible purchases which were listed. The state owned coal major can obtain around 280 million tons reserves of coal which could bring about 8000 MW annually and could led to enough energetic power plants. Once such high capacity power plants will be established, the power supply will be sufficient and can provide enough power supply to a vast area like two metro cities at a time.

This would further boost up the investor's appetence for the proposed public issue of Coal India which is a few months away. The companies and assets that will be acquired by the Coal India would work in its favor during the fund raising. The Company is seeking a list, as it has the desire of the Maharatna status which is awarded to the big state led firms.