PTC to import 15 mtpa coal from Australia, Indonesia
Power trading firm PTC India Ltd is looking at sourcing 15 million tonnes coal per annum from Australia, Indonesia as well as Africa.
By PTI |
NEW DELHI: Power trading firm PTC India Ltd is looking at sourcing 15 million tonnes coal per annum from Australia, Indonesia as well as Africa, while a deal on financial services arm is expected to close by November-end.
"The company has begun the due diligence on coal mining as well as importing around 15 million tonnes a year. We are primarily looking at picking up equity in coal mines in Australia and Indonesia," PTC India Chairman and Managing Director T N Thakur told media.
He said the coal will be utilised for power projects for which the company is the offtaker.
The company is also close to signing a deal for PTC Financial Services (PFS) with two partners, who would be finalised by November-end, he added.
The proposed company will be a non-banking finance company, for which the license from the Reserve Bank has already been received, Thakur said.
"PFS has to raise money from both international and domestic markets. We are a well-known player in the sector. If we rope in International players, we will be well received overseas," he added.
"The company has begun the due diligence on coal mining as well as importing around 15 million tonnes a year. We are primarily looking at picking up equity in coal mines in Australia and Indonesia," PTC India Chairman and Managing Director T N Thakur told media.
He said the coal will be utilised for power projects for which the company is the offtaker.
The company is also close to signing a deal for PTC Financial Services (PFS) with two partners, who would be finalised by November-end, he added.
The proposed company will be a non-banking finance company, for which the license from the Reserve Bank has already been received, Thakur said.
"PFS has to raise money from both international and domestic markets. We are a well-known player in the sector. If we rope in International players, we will be well received overseas," he added.
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