NTPC is scouting for coal assets overseas and has invited proposals form coal miners interested in offloading stake. The move is aimed at ensuring a steady supply of imported coal which the power producer needs for its plants.
NTPC, which generates 43,128 MW of power through its 38 power stations, imports coal to meet its fuel requirement. The company plans to use 17 million tonnes of imported coal this fiscal.
According to a company source, the company has floated an expression of interest seeking to acquire strategic stake in coal mines against which the mining company will offer a longterm commitment for off-take of coal.
Once the bids are received for the initiative, NTPC will carry out due diligence by engaging independent consultants specializing in the fields of technical, legal, tax, accounting and finance.
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