NTPC to Acquire Two Indonesian Coal Mines

2 December 2009 (Last Updated December 2nd, 2009 18:30)

Indian power generator NTPC says it plans to purchase two Indonesian coal mines to secure fuel supplies for its plants, which are experiencing a severe coal shortage. Cost, size, and other details of the purchase have not yet been confirmed. NTPC says it will need 125 million

Indian power generator NTPC says it plans to purchase two Indonesian coal mines to secure fuel supplies for its plants, which are experiencing a severe coal shortage.

Cost, size, and other details of the purchase have not yet been confirmed.

NTPC says it will need 125 million tons of coal per year to meet demand and that it plans to import more than 12 million tons in the current fiscal year to meet demand.

Coal accounts for more than 25% of NTPC's total capacity of 30,644MW.

NTPC, which had earlier purchased a stake in Australian mines, also plans to buy coal mines in South Africa and Mozambique.