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BANGALORE: GMR Infrastructure has opted out of the race to acquire Australia-based Bandanna Energy's coal mines after it found that a new local law prohibited foreign companies from mining on agricultural land.
"The transaction is not working out. While doing due diligence, GMR found that the regulation would impact the mining lease," said a person close to the development, requesting anonymity.
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Strategic Cropping Land?
There was some news a while back about BND sale hitting a road block because of this...
Maybe GMR might want to consider Bundi?
---BANGALORE: GMR Infrastructure has opted out of the race to...
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