State-run NTPC, the country´s biggest power generator and thermal coal consumer, will bid in next month´s auctions of coal blocks, a top executive has said. The auction follows the Supreme Court´s September order cancelling 214 coal blocks over charges of irregularities.
¨We will bid realistically for blocks that would be put under hammer for power plants by the government,¨ NTPC Chairman Arup Roy Choudhury said. ¨NTPC needs reserves to feed increased capacity that are scheduled to come up in the near future.¨
NTPC, which is targeting coal production of 300 million tonnes over the next four to five years, has firmed up plans to become one of the largest coal producers in the country.
¨We would like to meet bulk of our coal requirements from our captive mines. If we manage to emerge winner of blocks, it will help achieve the target,¨ said Roy Choudhury.
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