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GMR Infra’s unit buys 5% in mining firm

GMR Infra’s unit buys 5% in mining firm
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First Published: Thu, Apr 17 2008. 02 01 PM IST
Updated: Thu, Apr 17 2008. 02 01 PM IST
Reuters
Mumbai: GMR Infrastructure Ltd’s unit - GMR Energy Ltd, has acquired a 5% stake in South Africa’s Homeland Mining and Energy SA (Pty) Ltd, a unit of Canada’s Homeland Energy Group Ltd.
GMR Energy has an option to buy an additional 45% stake in the company, the company said in a statement.
Homeland Mining has licenses for several coal mining projects in South Africa, which would ensure fuel security for GMR group’s power projects in India, GMR said. However, financial details of the deal have not been disclosed.
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First Published: Thu, Apr 17 2008. 02 01 PM IST