PTC India Ltd (PTCI.B Quote, Profile, Research) hopes to buy a coal mine in Indonesia by March, its chief T.N. Thakur said on Wednesday at a conference.

"There is a possibility that we may acquire a coal mine in Indonesia. We are talking to a Singapore-based firm, Asian Infra," Thakur said.

After purchase of the mine in Indonesia, it would look at Africa and Australia for coal mines, he added.

Shares in PTC were trading down nearly 3 percent at 70.25 rupees.