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11 September 2009 at 19:00 IST
NTPC, Macquarie tie on Indonesia mine deal
Commodity Online Indian NTPC Ltd. (BOM: 532555) has announced that it has hired Sydney based Macquarie Group Ltd. (ASX: MQG) to evaluate a proposed coal mine buy-deal in Indonesia.
State-owned monopoly producer Coal India Ltd. also clarified that it will invest US$1.5 billion to acquire mines abroad to help overcome a shortage of an estimated 228 million metric tonnes a year by March 2012.
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NTPC Ltd. is an India-based enterprise engaged in the generation thermal power. Coal India is one of the largest coal producing companies in the world. Indonesia is anticipated to produce 240 million tonnes of coal as for 2009 and export 60% of the output.
NTPC has designed its strategy to import 12.5 million tonnes of coal in the year ending March. The 3 new units shall have a combined output of 1,480 megawatts.
India plans to add 78,700 megawatts of generation capacity in the 5 years to March 2012 and 100,000 megawatts in the following 5 years.
Notably, India's total installed capacity was 151,073 megawatts as of 31st July 2009.
NTPC stock however lost 0.17% at Bombay Stock Exchange closing at 205.1 on Friday. It touched a 52-week high of 233 and low of 113. MQG lost 0.36% closing at 49.75 at Australia Stock Exchange on Friday.
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