GMR takes 5 pc stake in S Africa coal mine

Mumbai, Apr 17: GMR Energy Limited (GEL), a 100 per cent Subsidiary of GMR Infrastructure, has acquired five per cent stake in Homeland Mining and Energy SA (Pty) Limited of South Africa, subsidiary of Homeland Energy Group, Toronto, Canada. Homeland Mining and Energy SA (Pty) Limited holds license for several coal mining projects in South Africa.

The acquisition will ensure fuel security for GMR Group's power projects in India and such a transaction will also act as a catalyst in the development of the energy business of the Group, the Company said in a release here. GEL also maintains option to acquire an additional 45 per cent stake in Homeland Mining and Energy SA (Pty) Limited.

UNI