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Hancock Coal: GVK Power Was Attracted to Co's Prospective Assets

  • Bloomberg UTV spoke to Paul Mulder, MD, Hancock Coal about the deal. Here’s what he had to say. “India is one of the fastest growing economies in the world and over 55% of India's demand comes from coal, as energy is the key resource.” So the overall outlook is extremely encouraging in the medium to long term, he added.

  • The reason behind the deal, which took place in October last year, was GVK's primary purpose is to set up a natural resources platform. “GVK was attracted to Hancock's prospective assets,” he added.

  • Hancock Coal is looking to support power expanision growth within India and service the greater Asian market, he said. When asked on how aggressive is the Indian growth story with regards to coal, Mulder replied, “looking at a 5.5% growth.”

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