STLL acquires Advent Coal Resources, Sainik Mining and Allied Services for Rs 922 cr

New Delhi: Diversified group Sindhu Trade Links Ltd (STLL) on Friday announced that it has acquired controlling stakes in Advent Coal Resources Pte Ltd and Sainik Mining and Allied Services Ltd (SMASL) for a total of Rs 922.50 crore.

The acquisitions bolster Sindhu Trade Links’ integrated mining platform, scaling its coal, logistics, and infrastructure capabilities while solidifying its presence in the Indonesian coal market.

In a statement, the company said that it has acquired a 78.26 per cent stake in Advent Coal Resources Pte Ltd, Singapore, for a total consideration of Rs 697.05 crore, and a 50.10 per cent stake in Sainik Mining and Allied Services Ltd (SMASL) for Rs 225.45 crore.

Advent Coal Resources owns effectively 100 per cent of the economic interest in a 620 million tonnes coal resource Indonesian coal project, together with the infrastructure connecting the mine through a 130-km logistics corridor to a deep-sea port and future industrial cluster. The coal project is being developed in East Kalimantan, Indonesia, as an integrated coal and infrastructure project.

The acquisition of SMASL further strengthens STLL’s mining capabilities. SMASL is a mining services company with expertise across mine developer & operator (MDO) contracts, overburden removal, coal extraction and coal transportation, with a track record of long-term contracts and outsourced mining operations.

“With a combination of operating capabilities, strategic assets and an expanding international footprint, the Company is well positioned to build scale, deepen its market presence by participating in upcoming opportunities in strategic mineral development via MDO…& commercial mining to build sustainable value over the long term,” STLL Chief Executive Officer Vikas Singh Hooda said.

STLL is a diversified business group with interests across mining, logistics, transportation and allied businesses.

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