NTPC appoints 3 bankers to buy coal blocks

"We have finalised three merchant bankers to acquire coal blocks in Indonesia," R S Sharma, chairman and managing director of NTPC, told reporters here.

He, however, declined to give the names of the bankers and other details.

NTPC is planning to acquire majority stake in coal blocks in Indonesia, Mozambique and South Africa to bridge the fuel supply shortfall from domestic sources. It is looking at coal mines abroad that can give up to 20 million tonnes of coal per annum.

The company is also looking at Engineering Procurement Construction (EPC) contracts in the Middle East.

Besides coal blocks, the company is also trying to source 3 million tonnes of liquefied natural gas (LNG) from Nigeria to set up a 700 MW gas-based power plant and a 500 MW coal-based plant in the African nation, he said.

The company's focus areas also include re-powering and replacement of old units, introduction of ultra supercritical technology and clean coal technologies.