Two Kentucky-based affiliates of the Indian-American company will export about 9 million tons of coal per year to Abhijeet to soften shortfalls in India’s domestic production.
The Kentucky government has called the agreement an opportunity to provide additional energy sources to one of the world’s fastest-growing economies and to provide some stability for domestic producers.
“It’s no secret that the coal industry is in a state of flux in America, what with erratic market conditions, the uncertain regulatory atmosphere and the ever-changing energy picture,” Kentucky Governor Steve Beshear said.
“But international markets need coal and this private partnership is a great example of a new market for Kentucky resources.
“My administration has worked hard to strengthen ties with India and we’re looking forward to a long and successful partnership with many more economic opportunities.”
FJS Energy chairman and former Coal India chairman Dr MP Narayanan confirmed the mutual benefits of the arrangement.
“The deal with the Indian group, besides strengthening trade and [the] business relationship between both the countries, will benefit both the companies optimally,” he said.
“Abhijeet Group is a marquis client for coal producers and suppliers in US and is one of the fastest growing companies in India.”
