State-run NTPC is looking at bringing its coal import bill to 'zero' in the next five years and will rely on the fossil fuel made available by Coal India and the company's own mines.
The power major is one of the country's largest consumers of coal. "Our aim is to have zero import of coal, and manage with the coal from Coal India sources or our own mines," NTPC CMD Arup Roy Choudhury told Media in an interview.
When asked about the timeframe in which the PSU plans to have nil coal imports, Choudhury said, "You can say in the next five years." NTPC ventured into coal mining as part of its backward integration process for fuel security.
The company has been allotted 10 coal blocks including Chatti-Bariatu, Chatti-Bariatu (South) and Kerandari in Jharkhand, Dulanga in Odisha and Talaipalli in Chhattisgarh. Its another block -- Pakri-Barwadih -- in Jharkhand is likely to commence coal production by the end of this calender year and the remaining mines subsequently.
"Pakri-Barwadih will come this year (2015) and others later," Choudhury said. NTPC imported close to 16 million tonnes (MT) of coal in the just-concluded fiscal compared to 10 MT in 2013-14.
Meanwhile, the PSU, which is also the country's largest power producer, is establishing 4,000 MW imported coal-based thermal power plant at Visakhapatnam district in Andhra Pradesh at an investment of about Rs 20,000 crore.
NTPC's present installed capacity is 44,398 MW comprising 39 generating stations.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
