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No plans to acquire coal mines overseas: NLC India CMD

Press Trust of India  |  New Delhi 

NLC Ltd has no plans to acquire coal mines overseas as the three blocks alloted to it by the were sufficient to meet fuel requirement of its power plants, a top company official said.

"We have no plans to acquire coal mines overseas as three coal blocks alloted to us -- two in and one in -- were enough to meet the coal requirement of our power plants," NLC Ltd Chairman and Managing Director S K Acharya told PTI.

The company would continue to focus on the blocks allotted to it in line with of India's mission of 'Make in India'

Company's coal-based plants "with 1,000 mw capacity were running, while 2,000 mw (plants) were under construction and around 4,000 mw were in the planning stage," the CMD said.

Around two years back, "we had invited expression of interest...To find out commercial viability and to find out whether it would make good business sense for us to go abroad but now we are not thinking that," he said.

The main activity of NLC is mining (coal and lignite) and power generation of thermal and renewable energy.

The company's present mining capacity (lignite) is 30.6 million tonnes per annum (MTPA) and the present power generation capacity, including JVs is 3,240 mw.

At present, NLC India has four open cast lignite mines namely Mine I, Mine II, Mine IA and Barsingsar Mine.

The lignite mined out is used as fuel to the linked pit-head power stations. Also, raw lignite is being sold to small scale industries to use it as fuel in their production activities.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 14:57 IST