PTI reported that state run NTPC may buy a coal asset in South Africa to feed its expanding capacity and is in initial stages of discussion for the buyout deal.
As per report 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.
Mr RS Sharma chairman of NTPC said that “We are in preliminary stages of discussion.”
But he refused 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 also appointed Australian firm Macquarie as consultant to do the due diligence for acquiring coal mines in Indonesia.
(Sourced from http://www.steelguru.com/news/index/2009/09/16/MTExOTEz/NTPC_in_talks_to_buy_South_African_coal_block.html)
Tuesday, September 15, 2009
NTPC in talks to buy South African coal block
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