For its upcoming power projects, the Neyveli Lignite (NLC) in Tamil Nadu is examining 89 proposals from Indonesia, Australia, Mozambique, the US and a few other countries which are offering coal assets and long-term fuel supplies among other things. Neyveli Lignite may take a final decision on these by next November, say media reports.
The company was looking to acquire two to three assets abroad for supply of 2-10 million tonne (mt) of coal in a year. The acquisition of coal assets by the company would ensure fuel security for the present as well for the future coal-based power projects, a top official of the company said. The 89 proposals are under five different categories, including joint ventures.
The company had earlier this year floated 'Expression of Interest' (EOI) for acquiring assets abroad for long-term coal supplies for the upcoming power plants and also for acquiring stakes in mining firms.
The company is expanding its activities not only at Neyveli, but also in other parts of the country as part of its plans for growth in power generation. Its fuel needs are likely to shoot up to 10 mtpa once all these projects are commissioned.