Business Daily from THE HINDU group of publications
Saturday, Nov 25, 2006
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Business Daily from THE HINDU group of publications Saturday, Nov 25, 2006 ePaper |
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Power Industry & Economy - Coal Corporate - Outlook NTPC to spend Rs 6,000 cr on coal block Anil Sasi
New Delhi , Nov. 24 NTPC Ltd plans investments to the tune of around Rs 6,000 crore for developing its 15-million-tonnes per annum Pakri Barwadih captive mine — the first of a series of eight mining blocks allotted to power major. The company plans to start the first `box-cut' — a trench made in the mining area to expose a portion of the coal seam — by December 2007 and is hopeful of starting coal production by around May 2008, NTPC officials said. In the first year of production, the mine is likely to have a capacity of up to 1.5 mt, which will be ramped up to around five mt over the subsequent two years. The company hopes to achieve the full 15 mt capacity four years into production.
Centre nod
The mining plan capacity from the block is the largest-ever approved by the Centre till date for the first phase of mining, an official said. The company has also received the environment clearance for its first phase of production and land acquisition formalities are in progress for the Pakri Barwadih block. Besides this, the company has bagged seven blocks, including two to be operated through a 50:50 joint venture with Coal India Ltd. NTPC has firmed up plans to produce around 50 mt of coal by the year 2017 to meet close to 25 per cent of its total coal requirement from its captive mines.
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