NTPC (India) plans to become coal producer

[phantom power]

NEW DELHI, Aug. 24 State-owned National Thermal Power Corp. has plans to become the second-largest producer of coal in India after Coal India Ltd.

The company said it would achieve this target in the next five years. The coal consumption of the country's major power generator is estimated to increase to 185 million to 200 million tons annually by 2017. It has planned to meet up to 25 percent of its total requirement from its internal sources over the next 10 years, The Business Line newspaper reported Friday.

A senior company official said NTPC has already been allotted eight domestic coal mining blocks and is looking to acquire coal assets in Indonesia and Australia next year. He said the company is actively considering all options including acquisition of equity in overseas mines.

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