October 08, 2008

Torrent Power eying coalmines and power sector in Botswana

It is reported that Ahmedabad based Torrent Power is seeking to invest USD 500 million in coal mining in Botswana and exploring prospects for generating and distributing power in the country.

As per report, a two member delegation of Torrent Power and Indian owned South African diamond cutting and polishing company Rosyblue called on Mr Festus Mogae president of Botswana recently to explore business opportunities in the landlocked nation. Mr Sudhir Mehta chairman of Torrent and Mr Dilip Mehta CEO of Rosyblue also held talks with Mr Ponatshego Kediklwe minister for minerals energy and water resources in Botswana.

Mr Sudhir Mehta later held discussions with officials of the Botswana Power Corporation and indicated that his company was keen to mine coal for export to India where there is huge demand. Mr Mehta said that “We are ready to invest at least USD 500 million in the project as soon as possible.”