Tata Power, largest integrated power company, has signed a Memorandum of Understanding (MoU) with Siberian Coal Energy Company (SUEK) to develop opportunities in the energy sector. As part of the agreement, both Tata Power and SUEK will cooperate on identifying and targeting opportunities in the energy sector in Russia and other geographies of common interest in order to develop mutually beneficial transactions.
Speaking on the development, company spokesperson said: “It gives us immense pride to announce our association with Siberian Coal Energy Company. SUEK is known to be a reliable and world class player in the mining business and Tata Power looks forward to working with them on identifying opportunities across the energy chain. The signing of this MOU is a major milestone for Tata Power and we endeavour to be a significant player in the international energy market.”
Siberian Coal Energy Company is Russia’s largest coal producer and one of the biggest coal mining companies in the world. SUEK operates in seven regions across Siberia and the far East. SUEK is the world’s fifth-largest coal company in terms of reserves, with 5.9 billion tonnes, and one of the world’s top ten producers by volume.