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Updated: April 23, 2010 22:58 IST

NTPC plans two plants in Kazakhstan

Special Correspondent
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S[READOMG WIMGS: NTPC Chairman & Managing Director R. S. Sharma addressing a press conference in New Delhi on Friday. PHOTO: RAJEEV BHATT
The Hindu S[READOMG WIMGS: NTPC Chairman & Managing Director R. S. Sharma addressing a press conference in New Delhi on Friday. PHOTO: RAJEEV BHATT

NTPC on Friday announced that it was exploring the possibility of setting up two coal-based thermal power plants in Kazakhstan and looking at acquisition of coal assets abroad.

Addressing a press conference here, Chairman and Managing Director R. S. Sharma said that the company was looking at options in Kazakhstan. Kazakhstan, which is a coal rich country, is seeking India's support for harnessing its dry fuel reserves. “Kazakhstan has huge coal reserves, about 33 billion tonnes. We have got proposals from them for utilising that coal. We are working on a business model to bring the coal here and also use it for plants there,” he added.

On being asked whether the company is keen on acquiring coal blocks in the country, he said: “we are looking at coal mine acquisition in Kazakhstan as well.” Mr. Sharma also said that NTPC was looking at various options of sourcing the dry fuel, including global coal block acquisition, and has identified countries like Indonesia, Australia, Mozambique and South Africa for the purpose.

The company has appointed Australian firm Macquarie as consultant for the evaluation of Kalimantu coal mines in Indonesia. It has also appointed merchant bankers and legal consultants for the due diligence of a mine in Mozambique. NTPC's total coal requirement for the current financial year (2010-11) is about 145-150 million tonnes, of which the company is planning to import 14 million tonnes.

Mr. Sharma said the company reported a marginal growth of 5.5 per cent in the provisional profit after tax. “The company has recorded a profit after tax of Rs. 8,656.53 crore in 2009-10 due to lower interest income and income tax refunds,” he said.

It posted a profit after tax of Rs. 8,201.30 crore in the previous year. Provisional net sales recorded a growth of 11.28 per cent at Rs. 46,504.47 crore against Rs. 41,791.30 crore.

The unaudited gross revenue registered a growth of 9.29 per cent at Rs. 49,478.86 crore against Rs. 45,272.76 crore. The company has planned a capital expenditure of Rs. 29,104 crore for the entire group this fiscal as compared to Rs. 14,002.11 crore in the previous year.

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