The country's largest power producer, NTPC, today said that it would commence coal production from its mines in Jharkhand in the second half of this fiscal.
"We will start coal production from PB (PakhriBarwadih) mines in the second half of current fiscal," NTPC CMD R S Sharma told reporters here.
The company plans to achieve a coal production target of 15 million tonnes per annum by 2012. NTPC has ventured into the coal mining business with an aim to meet about 20 per cent of its fuel requirement from its captive mines by 2017.
The government has so far allotted seven coal blocks to NTPC. Of which, two blocks would be developed through joint ventures.
"If my dependence is on coal imports....I will meet it through my resources, I would like to have cheaper fuel production there (abroad) and then I will bring it here....I will only pay for transportation," Sharma said.
The company's total coal requirement during 2009-10 is estimated at 150 million tonnes, of which Coal India and its subsidiaries would provide 130-132 million tonnes and the remaining would be met through imports.
NTPC plans to import 12.5 million tonnes of fuel in the current fiscal. It is also acquiring coal mines in Indonesia and Mozambique for sourcing the dry fuel. It will soon appoint a consultant for the due diligence of those blocks.
