By M.C. Govardhana Rangan
May 29 (Bloomberg) -- Reliance Power Ltd. is negotiating with BHP Billiton Ltd. and Rio Tinto Ltd. to set up a joint venture for developing coal mines in India to supply its generation plants, the Economic Times reported, citing an unidentified person.
Reliance Power plans to spend 50 billion rupees ($1.05 billion) on the mines, according to the report. The generator is in talks with overseas companies, the Economic Times said, citing an unidentified company spokesman who didn’t provide their names.
To contact the reporter on this story: M.C. Govardhana Rangan in Mumbai at grangan@bloomberg.net.
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