NTPC to acquire fresh coal mines by Dec: Sources

NTPC is looking at fresh coal mines for raising incremental capacity by December, says CNBC-TV18 quoting NewsWire18 sources.

The news has come after a few days since the government decided  to re-allocate three coal blocks, that could fire 8,500 MW electricity generation capacity, to the country's largest power producer.

Additionally, there are 54 mines that will be up for auction once the coal ministry lays down a roadmap on the auctioning process.

Companies have told the ministry that geological reserves should be ascertained in advance, inorder to attract more investors for the coal blocks.

However, land acquisition has been a structural problem for many firms. Recently, NTPC had to cancel setting up a plant in (Garjmera) Orissa. However, it has started looking at alternative sites for setting up a plant.

The state run firm has recently set up Vallur thermal power project, a 500 MW capacity and a joint venture between NTPC and Tamil Nadu Electricity Board.