(Adds further details of the acquisition, closing stock price)
MUMBAI (Thomson Financial) - Reliance Power Ltd. said its wholly owned unit, Reliance Coal Resources Pvt. Ltd., has agreed to buy three coal concessions in Indonesia.
Reliance Power will not make down payments for the mines in southern Sumatra, but the contractors of the mines would be paid on a per-tonne basis, company sources said.
Reliance Power shares ended the day 0.62 percent higher at 396.75 rupees on the Bombay Stock Exchange, while the benchmark Sensex closed 1.81 percent higher at 17,600.12 points. tfn.newsdesk@thomsonreuters.com sim/jro/jlc/ami/ssa/kf1 COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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