The Indian group Mercator Limited, previously Mercator Lines Limited, aims to earn US$300 million from the sale of coal assets in Mozambique and Indonesia to finance the partial acquisition of the state-owned Dredging Corporation of India, reports the Indian newspaper The Economic Times.
The sources cited by the newspaper indicated that Indian and Chinese companies are interested in the coal assets, which include a mining license in Mozambique and three mines in Indonesia.
“The administration decided that coal was no longer a key business for the group’s activity,” the sources specified, adding that the deal should be concluded by the end of the year.
The Mercator Limited group, founded in 1983, is a conglomerate active in commercial navigation, logistics, dredging and coal exploitation. (Source: Macauhub)