Hyderabad-based construction and infrastructure company Gayatri Projects Limited (GPL) has said its subsidiary Thermal Powertech Corporation (India) Limited (TPCIL) had signed a multi-year contract with Indonesia-based PT Bayan Resources TBK (Bayan) to supply 1 million tonne of coal annually for over ten years.
The coal supply is expected to commence from 2014, according to a company release here on Friday.
TPCIL is a joint venture between Gayatri Energy Venture, a wholly-owned subsidiary of GPL, and Sembcorp Utilities, a wholly-owned subsidiary of Singapore-based Sembcorp Industries Limited, to build, own and operate a 1,320-Mw coal-fired power plant (with investment of Rs 6,869 crore) at Krishnapatnam in Nellore district of Andhra Pradesh.
GPL owns 51 per cent stake and Sembcorp 49 per cent stake in TPCIL.
With the signing of this agreement, TPCIL has secured almost half of the plant's requirement for imported coal, the release said.