NTPC aims to produce coal from mine in 2011/12

NTPC aims to produce coal from mine in 2011/12

New Delhi:Top power utility NTPC Ltd aims to produce coal from its captive mine in Jharkhand in the next financial year, its chairman said.

“We have just got the environment clearance and we hope to produce coal from Pakri Barwadhi (in Jharkhand) in 2011/12," Arup Roy Choudhury told reporters on Friday.

NTPC has exclusive exploration rights in five mines in India and joint rights with Coal India Limited in two others in Jharkhand, in eastern India.

NTPC aims to lock-in fuel supplies to feed its rising generation capacity, currently at 32.2 gigawatts and expects it to rise to 75 GW by 2017.

India aims to set up a 50,000 crore ($10.74 billion) debt fund to facilitate development of new power projects to reduce blackouts in Asia’s second-fastest growing economy.