SEOUL, July 21 Korea Electric Power Corp (KEPCO)
(015760.KS) said on Wednesday it would invest 618 billion won
($512.3 million) to buy a 20 percent stake in Indonesia's Bayan
Resources (BYAN.JK) to secure more coal supplies.
Korea Electric said in a statement that it was purchasing the
stake in Indonesian coal miner PT Bayan Resources Tbk, and a
company spokeswoman provided the value of the deal.
The investment will help the state-run utility secure 2
million tonnes of coal a year from 2012 and 7 million tonnes
annually from 2015, pushing up its coal self-development rate to
34 percent from 24 percent currently, it said.
(Reporting by Cho Mee-young; Editing by Jonathan Hopfner)