State-run National Thermal Power Corporation ( NTPC ) today signed a coal-swapping agreement with Gujarat State Electricity Corporation (GSEC) at Gandhinagar to swap 10 lakh metric tonnes (MT) of coal. State Energy Minister Saurabh Patel said GSEC and NTPC will collectively save Rs 900 crore through the deal. "With the initial swap of 10 lakh MT of coal, Gujarat will save Rs 140 crore. Later, when 25 lakh MT of coal will be swapped, Gujarat will save Rs 400 crore, while NTPC will save Rs 500 crore, taking the total amount of mutual benefit to Rs 900 crore," an official release quoted Patel as saying. Most power generating companies are given specific allocation of coal by Coal India Ltd. According to a Central directive, power generating firms are needed to import 10-15 percent of their total coal requirement.
Wednesday 1 October 2014
NTPC signs coal-swapping agreement with GSEC
State-run National Thermal Power Corporation ( NTPC ) today signed a coal-swapping agreement with Gujarat State Electricity Corporation (GSEC) at Gandhinagar to swap 10 lakh metric tonnes (MT) of coal. State Energy Minister Saurabh Patel said GSEC and NTPC will collectively save Rs 900 crore through the deal. "With the initial swap of 10 lakh MT of coal, Gujarat will save Rs 140 crore. Later, when 25 lakh MT of coal will be swapped, Gujarat will save Rs 400 crore, while NTPC will save Rs 500 crore, taking the total amount of mutual benefit to Rs 900 crore," an official release quoted Patel as saying. Most power generating companies are given specific allocation of coal by Coal India Ltd. According to a Central directive, power generating firms are needed to import 10-15 percent of their total coal requirement.
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