NTPC in talks to buy South African coal block

Last Updated: Tuesday, September 15, 2009 - 14:29

New Delhi: State-run NTPC said on Tuesday that it may
buy a coal asset in South Africa to feed its expanding
capacity and is in intial stages of discussion for the buyout
deal.

The company plans to buy at least one overseas coal mine
in this fiscal in order to meet the shortfall in domestic
supplies. Its projects are facing acute coal shortages. And as
the firm plans to add more than 20,000 MW of capacity by 2012,
it is exploring ways to secure a stable source of energy.

"We are in preliminary stages of discussion," NTPC CMD
RS Sharma said here, refusing to divulge further details.

The country`s largest power generation utility is also
scouting for coal blocks mines in Australia and Mozambique. It
is looking at blocks that can give up to 20 million tonnes of
dry fuel per year.
Earlier, the company appointed Australian firm Macquarie
as consultant to do the due diligence for acquiring coal mines
in Indonesia. NTPC would buy a minority stake in the
Kalimantau coal mines in Indonesia to achieve fuel security.

Bureau Report



First Published: Tuesday, September 15, 2009 - 14:29

More from zeenews

 
comments powered by Disqus