Essar Looks to Indonesian CBM

India's Essar Group has its eye on two coal-bed methane (CBM) blocks in Indonesia, and continues to look for investment opportunities in mining and power generation in the South East Asian country.

The group has submitted a bid for one CBM block and is conducting a joint study for the other, said K.B. Trivedi, president director of PT Essar Indonesia, on the sidelines of the World Economic Forum on East Asia.

The move reflects growing interests in Indonesia energy sectors from Essar and other Indian companies. A handful of Indian companies, including Essar, have in recent years acquired coalmines in Indonesia to help secure India's rapidly growing demand for energy.

Essar last year bought coalmines, with mineable reserves of 64 million tons, in Kutai, East Kalimantan.

"We continue to look for other investment in the oil and gas, mining sectors, and power generations (in Indonesia)," said Essar Group's Chief Executive Prashant Ruia.