The Business Bytes
RANCHI, APRIL 2, 2024 (TBB BUREAU):
NTPC Ltd., India’s leading integrated power utility, has delivered an exceptional performance from its five operational captive coal mines located in Jharkhand, Odisha, and Chattisgarh, achieving record coal production of 34.39 million metric tonnes (MMT) by March 31st in the financial year 2023-24 (FY24). This outstanding achievement not only surpassed the target set by the Government of India but also marked a significant year-on-year (Y-o-Y) growth of 48.21 per cent.
The company also achieved an impressive coal despatch of 34.15 MMT in FY24, reflecting a remarkable increase of 55.50 per cent Y-o-Y. Additionally, NTPC exceeded its capex utilization target by achieving a capex of Rs 1640 crore.
Furthermore, NTPC Coal Mining achieved its highest ever single-day coal production and dispatch of 1.8 million metric tonnes (LMT) and 1.29 LMT respectively. Notably, coal production has commenced from the Kerendari Coal Mining Project, NTPC’s 5th Captive Mine. All five operational coal mines of NTPC have surpassed their targets and are poised to establish new benchmarks in the future.
Dulanga Coal Mining Project received a coveted 5 Star rating from the Ministry of Coal, GOI, and has consistently ranked amongst the top 3 mines in the country for the last three years.
NTPC Mining Limited (NML), a wholly-owned subsidiary of NTPC Limited, received amended allotment agreements from the Ministry of Coal for 6 coal mines previously allocated to NTPC. Additionally, NML secured the North Dhadu (East) coal block in Jharkhand under a coal block auction conducted by the Ministry of Coal. Furthermore, NML attained a credit rating of AAA from CRISIL & CARE.
To date, NTPC has produced over 103 million metric tonnes (MMT) of coal from its five operational captive coal mines, contributing significantly to India’s energy security. NML aims to fuel 13 per cent of NTPC Thermal Generation and envisions reaching a capacity of 100 million tonnes per annum.
The remarkable growth in coal production and despatch by NML underscores its dedication to operational excellence and its pivotal role in meeting India’s energy demands. The company remains committed to implementing innovative technologies and safety practices to further enhance its performance and support the nation’s energy goals.
