NTPC Likely To Invest More On Abroad Coal Assets

New Delhi: NTPC Ltd is planning to infuse over $1 billion on purchasing coal assets abroad over the next few years as part of its efforts to secure long-term fuel linkages. The generation major, which is in fairly advanced stages of looking for opportunities in countries such as Indonesia and Australia, Nigeria, Mozambique and South Africa, has already earmarked around $125 million to be pumped into Coal Ventures International Ltd (CVIL) a alliance firm co-promoted by state-owned Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd, Coal India Ltd and National Mineral Development Corporation. They are on the lookout and expect to strike a coal mine deal overseas during the current year as part of a long term measure to ensure fuel security for our coal-fired stations.