NTPC asks govt to abolish import duty on coal

The country's largest power producer NTPC has asked the government for abolition of import duty on coal, which currently stands at 8 per cent.

"We want that the import duty on coal should not be there," NTPC Chairman and Managing Director R S Sharma told reporters here.

At present, NTPC which is the biggest consumer pays 8 per cent customs duty on import of coal.

The company's coal consumption in the current fiscal stands at 125 million tonnes, of which it would import 12.5 million tonnes to bridge the shortfall from domestic sources.

However, NTPC has increased its coal import target from the present 12.5 million tonnes to 14 million tonnes for the next financial year.

"We are planning to import 14 million tonnes of coal in the next fiscal," he said.

NTPC plans to achieve an installed generation capacity of 75,000 Mw by 2017.

Currently, power projects with capacity of 18,000 Mw are under construction and those with 10,000 Mw are in the bidding stage.

"Nearly 18,000 Mw capacity is under construction and 10,000 Mw in the bidding stage," Sharma said, adding that the feasibility report for 4,500 Mw projects has been prepared and bids for sourcing equipment for these projects would be invited in the next 2-3 months.