NTPC appoints consultants for Mozambique coal mine

State-owned power producer NTPC, which is agressively scouting for coal properties abroad to secure raw material for its plants, has appointed merchant bankers and legal consultants for the evaluation of a mine in Mozambique.

The company is tight lipped about the names of the merchant bankers and legal consultants as the matter is at a preliminary stage.

"We have appointed merchant bankers and legal consultants for the due diligence of the identified coal block in Mozambique," a senior company official said.

The thermal power generator is also eyeing coal blocks in other parts of Africa, Australia and Indonesia. NTPC appointed Australian firm Macquarie as a consultant for the evaluation of Kalimantu coal mines in Indonesia and would soon finalise the legal consultants for the same.

"Ownership of coal mines is a major issue in countries like Indonesia, therefore, we do not want to take any chances and are appointing legal consultants along with merchant bankers," the official said.

The company is planning to increase its electricity generation capacity to 50,000 MW from the current about 31,000 MW by the year 2012, for which it requires coal from both domestic as well as global sources.