India's state-run, Coal India Ltd (CIL) has indicated that it is planning to acquire new coal mines in other countries in order to meet shortages as it aims to increase output.

The company has invited bids from bankers and interested parties for acquiring coal assets abroad. CIL's unit, Coal India Videsh, which was set up to strengthen coal reserves of the company, has invited bids from several parties.

"Coal India seeks expression of interest (EoI) from investment bankers, owners/owner's representatives for acquisition of coal assets abroad," CIL said in a release.

CIL has also started analysing its coal reserves in its mines located in the Southern African nation of Mozambique and has also invited bids for taking up drilling at the blocks. CIL said that two mines A1 and A2 at Motaize, in Tete Province of Mozambique are spread across an area of 200 sq km and their exploration might take about two years.

Coal minister Sriprakash Jaiswal had said that the coal mines should be aggressively sought after in international markets to secure energy supplies in the country. According to the figures available, the gap between demand and supply for coal in the country was 161.5 million tonne (MT) during the previous fiscal year and it is estimated to increase to 200 MT in 2016-17.