Coal news and updates

State-run NTPC to bid for coal blocks

State-run NTPC, the country's biggest power generator and thermal coal consumer, will bid for coal blocks due to be auctioned in January as it seeks to expand capacity and secure fuel to run its power stations, a top company executive said.

The company will bid for the mines even if the government allocates some of the blocks to it, the executive added. "Any block, which is of interest to us, we will bid (for it)," NTPC Chairman Arup Roy Choudhury said.

NTPC, which imported 9.5 million tonne (mt) of coal last fiscal, is looking to import 12-13 mt of the fuel in the current fiscal.

Roy Choudhury said NTPC will bid for the coal blocks as it wants to reduce its dependence on coal imports. "Obviously, when you have coal in India, why go for imports?" he said. "Everybody's responsibility is to reduce the current account deficit. It is the responsibility of every Indian. . .Naturally, we are also responsible. Why should we increase the CAD? Deficit should be curbed." Roy Choudhury also said that the company expects to start the first pha ..

Source: The Economic Times