Ahmedabad, Aug 19 (IANS) Ahmedabad-based Torrent Power Limited is keen to invest about $500 million in coal mining in Botswana and is also exploring prospects for generating and distributing power in the southern African nation.
A two-member delegation – of Torrent Power and Rosyblue, a $1.3 billion South African diamond cutting and polishing company, – called on Botswana President Festus Mogae last week to explore business opportunities in the landlocked nation, sources said here.
Torrent chairman Sudhir Mehta and Dilip Mehta, CEO of Rosyblue, also held talks with Ponatshego Kediklwe, minister for minerals, energy and water resources in Botswana.
The Torrent chairman 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.
“We are ready to invest at least $500 million in the project (in Botswana) as soon as possible,” Sudhir Mehta said.
India in its 11th five-year plan (2007-12) has decided that coal will be the fuel for thermal power projects, as the availability of natural gas within the country has not yet been fully estimated. Also the supply of coal from within the country is not adequate to meet demands.
Rosyblue’s Dilip Mehta expressed willingness to start diamond imports from Botswana. He said: “We are not looking for a small operation. We want to venture into business of a size that will employ 800 people immediately.”
Rosyblue has operations in 15 countries including India, China, Thailand, USA, Israel, the UAE and Russia.