Business OpportunitiesNTPC to source coal from abroad, identifies 2 Indonesian mines
State-run power company National Thermal Power Corporation (NTPC) is exploring opportunities to source coal from abroad and has identified two more blocks in Indonesia for securing the dry fuel for its thermal power plants.
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"We have identified 2-3 more coal mines in Indonesia," NTPC CMD R S Sharma told reporters here today, adding that "this is mainly for fuel security for our plants".
NTPC requires 150 million tonnes of coal during the current financial year to fire its power plants in the country and the company plans to import 12.5 million tonnes of the dry fuel from overseas.
NTPC has already appointed Australian firm Macquarie to do the due diligence for acquiring the Kalimantu coal mine in Indonesia. The company plans to buy a minority stake in the coal block.
Meanwhile, production from the company"s Pakri Barwadih coal mines in Jharkhand will commence from March, 2011.
"Mining from Pakri Barwadih will start from March, 2011," Sharma said adding that the initial production would be 3-4 million tonnes which would be ramped up to 12-13 million tonnes in four years time. The coal reserves of these mines are 1.5 billion tonnes.