India’s Anil Dhirubhai Ambani Group (ADAG) is looking to bid for mines that will be used to convert coal to liquid fuel, the Mint newspaper reported on Tuesday, citing an unnamed group official.The group has short listed an Australian firm and an American company as technology partners and could bid for three coal-to-liquid blocks in Orissa, the newspaper said.
Group spokesman Venkatesh Somayaji declined comment on the report.The newspaper said the move could open another front in an ongoing battle between Anil Ambani and his elder brother Mukesh, whose energy group Reliance Industries Ltd, was also in the fray for the blocks.
Reliance Industries had this month claimed it had a right of first refusal for Reliance Communications, controlled by Anil, after the mobile operator began exclusive talks with South Africa’s MTN Group to create an emerging market telco that would rank in the global top 10.
The estranged brothers have sparred since they reached a settlement in 2005 that divided the Reliance business empire between the two. ADAG has interests in telecoms, power, construction, financial services and entertainment.Record crude oil prices have kicked up interest in proven technologies such as coal-to-liquid.
