| Date: |
12-01-2015 |
| Subject: |
NTPC will bid for coal blocks in next auctions: Top executive |
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KOLKATA: State-run NTPC, the country's biggest power generator and thermal coal consumer, will bid in next month's auctions of coal blocks, a top executive has said.The auction follows the Supreme Court's September order cancelling 214 coal blocks over charges of irregularities.
"We will bid realistically for blocks that would be put under hammer for power plants by the government," NTPC
chairman Arup Roy Choudhury said. "NTPC needs reserves to feed increased capacity that are scheduled to come up in the near future."
National Thermal Power Corporation Limited (NTPC), which is targeting coal production of 300 million tonne over the next four to five years, has firmed up plans to become one of the largest coal producers in the country.
"We would like to meet bulk of our coal requirements from our captive mines. If we manage to emerge winner of blocks, it will help achieve the target," said Roy Choudhury.
NTPC meets almost 90% of its coal requirement of 160 million tonne from state-run Coal India. It imports about 16 million tonne, which is blended with domestic coal before use in thermal power units. The company's generation capacity is close to 43,000 MW and it has about 10 coal blocks. These blocks have a total reserve of about 5 billion tonne and can produce around 100 million tonne a year.
Some 24,000 MW of generation capacity is under construction at the moment and another 4,540 MW is under bidding. These plants will require additional coal when they come up. To begin with, they would be catered by Coal India but NTPC wants to jack up its own coal production capability to meet almost 90% of coal requirement in-house.
Source : economictimes.indiatimes.com
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