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Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA


Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.

“We are exploring the possibility of acquiring coal mines and also operating two coal-based power plants in Kazakhstan,” NTPC chairman and managing director R.S. Sharma said.

“They have coal reserves of 35 billion tonnes and are keen to offer some mines to us. We have got proposals on how to utilise the coal. We are working on a business model so that we can bring the coal here and also use it for plants there,” he said.

Kazakhstan is looking at the reconstruction of the Ekibastuz GRES — 1 & 2 power plants.

According to sources, the two plants can be given directly on a nomination basis to NTPC.

To secure fuel for its plants, NTPC is looking at various options including global coal block acquisition. The PSU has identified countries such as Indonesia, Australia, Mozambique and South Africa for this purpose.

NTPC has appointed Australian firm Macquarie as a consultant for the evaluation of the Kalimantu coal mines in Indonesia. It has also appointed merchant bankers and legal consultants for the due diligence of a mine in Mozambique.

The country’s largest power producer is planning to increase its generation capacity to 50,000 MW from the current level of about 31,000 MW by 2012, for which it requires coal from both domestic as well as global sources.

NTPC’s coal requirement for the current financial year is about 145-150 million tonnes, of which the company is planning to import 14 million tonnes.

Net up 5.6%

NTPC’s net profit rose 5.6 per cent to Rs 8,656.53 crore in 2009-10 from Rs 8,201.30 crore in the year-ago period. Net sales in 2009-10 recorded a growth of 11.28 per cent at Rs 46,504.47 crore compared with Rs 41,791.30 crore in the previous fiscal.

Unaudited gross revenue grew 9.29 per cent to Rs 49,478.86 crore in 2009-10 against Rs 45,272.76 crore in 2008-09.
Source: Telegraph India



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