Nalco: In Talks to Buy Indonesian Coal Asset

JAKARTA -- India's National Aluminium Co. aims to buy a coal asset in Indonesia with at least 200 million metric tons of reserves and is in talks with five to six parties in Indonesia regarding the investment, a senior company executive said Thursday. Nalco is looking at possible assets on the coal-rich eastern Indonesian islands of Kalimantan and Sumatra, and production will eventually be sent to Nalco's facilities in India, Finance Director B.L. Bagra told Dow Jones Newswires. He didn't specify a timeframe or an amount for the purchase, or whether more than one asset might be bought.