PTC to secure 15 MT coal pa
Power Trading Corporation (PTC) has plans to source around 15 million tonnes coal per annum from Australia, Indonesia as well as Africa.
By TNN |
NEW DELHI: Power Trading Corporation (PTC) has plans to source around 15 million tonnes coal per annum from Australia, Indonesia as well as Africa.
The company is also in the process of finalising a deal to float a financial arm for itself, sources close to the development told ET.
“We expect that we will finalise partners for our financial arm by November,” a source said. The proposed company will be a non-banking finance company, for which the license from RBI has already been received.
The company would invest Rs 300 crore for its 60% stake, while the two partners would hold 20% share each in the to-be-formed venture. PTC India is also in the process of raising Rs 1,200 crore in the current fiscal through placement to QIBs.
The company is also in the process of finalising a deal to float a financial arm for itself, sources close to the development told ET.
“We expect that we will finalise partners for our financial arm by November,” a source said. The proposed company will be a non-banking finance company, for which the license from RBI has already been received.
The company would invest Rs 300 crore for its 60% stake, while the two partners would hold 20% share each in the to-be-formed venture. PTC India is also in the process of raising Rs 1,200 crore in the current fiscal through placement to QIBs.
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