NTPC eyes stake in foreign mines

Aug 31, 2010 |

Reuters

New Delhi, Aug. 30: India’s top power utility NTPC Ltd is looking to buy stakes in two Indonesian coal mines and also plans to invite global bids for more overseas assets, its chairman said on Monday.

NTPC aims to lock-in fuel supplies to feed its rising generation capacity, currently at 32.2 giga watts and expects it to rise to 75 GW by 2017.

India may face a coal shortfall of 189 million tonnes a year by 2015, leading to a two-fold increase in imports, global consultancy KPMG said late last month.

The firm hopes to finalise the deals for the two mines — in East Kalimantan and Sumatra — in the current financial year to March 2011, Mr R.S. Sharma told reporters.

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