Australia's leading construction and mining services firm NRW has reportedly expressed interest to form a joint venture with another India-focused Australian miner, India Resources (IRL) to invest in the mining sector in India.
NRW proposes to form a joint venture with IRL with a long-term view on the Indian mining sector, which has got a huge potential.
The move follows the announcement by Union Finance Minister P Chidambaram in his budget speech that public-private partnership (PPP) model in coal would be welcomed.
The fine print of the PPP policy is being worked out by the coal ministry. Once this is finalised, Coal India (CIL) will float a global tender. It is the joint venture which will participate in the tender.
The joint venture would participate in the tender floated by Coal India for PPP project. IRL has been carrying out mining operations in India for coal and non-ferrous metals over the past few years.
With projects worth over $200 million, IRL is one of the leading foreign contract miners to operate in India. On the other hand, for NRW, it would be a maiden foray into the Indian mining space.
Listed on the Australian Securities Exchange (ASX), NRW consists of three subsidiary companies -- NRW Civil and Mining, Action Drill & Blast, and Action Mining Services. The company’s current client list includes global resource giants such as BHP Billiton Iron Ore and Rio Tinto.
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