Coal India, Reliance Industries eye venture-report

MUMBAI, March 10 (Reuters) - Reliance Industries Ltd (RELI.BO: Quote, Profile, Research, Stock Buzz) is planning a joint venture with state-owned Coal India Ltd for the refiner's proposed 80,000 barrel-per-day coal-to-liquid project, the Times of India said on Monday.

"The top brass of the two sides have already held a round of talks to flag the areas of cooperation", the paper said, citing unnamed sources.

Reliance has sought coal mines with total reserves of 1,500 million tonnes under the operational area of Mahanadi Coalfields, the paper said, adding that a project of this size would require an investment of more than $5 billion.

A spokesman for Reliance Industries declined comment. (Reporting by Rina Chandran; Editing by John Mair)