NTPC may buy stake in Australian coal mines

NTPC may buy stake in Australian coal mines

New Delhi: NTPC Ltd, the country’s top power utility, is looking to buy stakes in coal mines in Australia, a senior company official said on Wednesday.

“There are lots of coal assets in New South Wales and Queensland. There are quite good many assets of black coal and there is good port infrastructure," chairman R S Sharma told reporters.

He said a team of NTPC executives would shortly visit Australia to work out the details.

The company plans to add 4,000-4,500 megawatts generation capacity in the current fiscal year to March.

Separately, Sharma said the company planned to invest Rs6,000-8,000 crore in the next five years to generate 1,000 megawatts of renewable power.

In April, Sharma had said the firm was looking to set up two coal-fired power plants in Kazakhstan, besides building a coal-based power plant of 500-1,000 megawatts capacity in Bangladesh.

State-run NTPC aims to set up nuclear power projects with a capacity of about 2,000 megawatts by 2017.