The Coal India Limited (CIL) has decided to acquire coal resources abroad with a view to bridge the increasing demand-supply gap and enhance the country's energy security.

This information was given by the Power Minister, Mr M Veerappa Moily, in a written reply in the Rajya Sabha today. He said the thrust areas of this overseas venture are to acquire thermal coal assets, undertake their exploration, development, operate the mines and finally import the produces to India for supply to thermal power plants. The Minister said the International Coal Ventures Limited has been set up as a Joint Venture Company with Steel Authority of India, Coal India, Rashtriya Ispat Nigam Limited, NMDC and NTPC as its promoter companies. The Minister said the Coal India has executed an MoU with organizations owned by the Provincial Government of Limpopo, South Africa, for acquisition, exploration and development of coal assets.