GMR Energy buys 5% stake in South African mining firm

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New Delhi, Apr 17 (UNI) GMR Infrastructure today said its subsidiary GMR Energy Ltd (GEL) has acquired five per cent stake in South Africa's Homeland Mining and Energy SA (Pty) to ensure fuel security for the group's power projects in India.

''GEL also has the option to acquire an additional 45 per cent stake in this subsidiary of Canada-based Homeland Energy Group which holds licences for several coal mining projects in South Africa, '' the company said in a statement.

The acquisition and the transaction also act as catalyst in the development of the energy business of the group, it added.


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