Indian Company Makes $7 Billion Deal To Import Coal from Ky., W. Va.

"FRANKFORT, Ky -- A company in India plans to buy $7 billion worth of coal from Kentucky and West Virginia producers, Gov. Steve Beshear announced Wednesday."

"Beshear, at a Capitol news conference, called the private partnership 'a great example of a new market for Kentucky resources.' He noted that he made an economic development trip to India two years ago and would be making another trip there soon.

The deal is for 25 years and involves India's Abhijeet Group and New Jersey-based FJS Energy LLC to buy coal from Kentucky and West Virginia through Kentucky-based affiliates FJSE Marshall Inc. and FJSE River Coal.

Under the agreement, Kentucky coal companies will export about 9 million tons of coal each year to Abhijeet Group, which has been buying coal from Indonesia and Australia."

Jack Brammer reports for the Lexington Herald-Leader August 15, 2012.

SEE ALSO:

"RailAmerica Shelves Plans to Export Coal From Washington" (Bloomberg Businessweek)

Source: Lexington Herald-Leader, 08/16/2012