Coal India to Invest in Port Terminal

18 July 2010 (Last Updated July 18th, 2010 18:30)

Indian power company Coal India plans to invest around INR5bn ($107m) to build a terminal in south-east India in a venture with Visakhapatnam Port Trust, according to a company official. The port terminal, with an annual capacity of around six million metric tons of coal, is expected to b

Indian power company Coal India plans to invest around INR5bn ($107m) to build a terminal in south-east India in a venture with Visakhapatnam Port Trust, according to a company official.

The port terminal, with an annual capacity of around six million metric tons of coal, is expected to be completed by 2013, reports businessweek.com.

Coal India plans to import coal from overseas through a joint venture with Indian power company National Thermal Power Corporation (NTPC), according to Bloomberg.

NTPC plans to import 14 million tons of coal in the year ending March 2011 and Coal India is expected to issue a tender next month for an order from the utility to import four million tons of coal by the end of December.