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Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS


PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Indonesia for the purpose.

"We are looking for coal blocks abroad and have shortlisted mines in Australia and Indonesia where the fuel is available in abundance," CMD Power Trading Corp T N Thakur told reporters here.

"Ideally, if we can have (acquire) an asset that can give us 15 million tonnes of coal every year," he added. However, he declined to give further details.

"Whether the company would acquire the mines on its own or through its wholly-owned subsidiary PTC Energy Ltd, will be decided later," Thakur said.

The company plans to import the dry fuel from the properties it may acquire abroad and sell it in India.

PTC has already committed 1.5 million tonnes of coal annually to two power projects with a capacity of 250 MW, in the country for the next 25 years.

The company has received request for supplying coal to power projects with nearly 5,000 MW capacity.

"We have requests from 5,000 MW power projects but we have not committed anything as of now... We want to buy the properties overseas to meet that kind of demand," he said. PTI

Source:http://www.ptinews.com/pti%5Cptisite.nsf/0/72A3CA693BE8FBE2652575CF003B2892?OpenDocument



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Recent News

Monday, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...


Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...


Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...


Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...


Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...


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