NTPC identifies Indonesian coal mines for acquisition

New Delhi, Nov 30 (Inditop.com) State-run power utility NTPC is scouting for more coal mines overseas and has identified about three blocks in Indonesia.

“We are working on more international acquisitions and have identified two-three mines in Indonesia,” NTPC chairman and managing director R.S. Sharma told reporters at the sidelines of a power conference here.

NTPC already owns a coal mine in Indonesia and has earmarked about $3 billion (Rs.14,000 crore) for international acquisitions. It is eyeing assets in South Africa, Nigeria and Mozambique, apart from Indonesia.

“We have realised that ultimately imports are going to be a reality for many years to come and are working aggressively to identify more mines,” said Sharma.

NTPC’s total coal requirement this financial year is about 150 million tonnes, out of which the company will import 12.5 million tonnes.