Indian power-generation company NTPC is reportedly planning to award a $4bn worth contract to commence its first coal mine in the country.

Bloomberg quoted three people familiar with the company’s decision saying that an auction to select an operator for the Pakri Barwadih mine in the eastern state of Jharkhand has been completed.

A venture of Thriveni Earthmovers and Sainik Mining won the auction and has quoted quoted Rs260bn ($4bn) to develop and run the mine for a period of 25 years.

The state-run utility is hoping to save on expensive coal imports by arranging its own supply.

Two of the people said that production from the mine may begin early in 2017 and for over 25 it is expected to yield about 310 million metric tonnes of coal to NTPC.

The NTPC owned mine has been delayed due to protests by villagers who asked for higher compensation in order to vacate the land.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In 2014, the company gave a contract to a unit of Australia-based Leighton Holdings for the mine development but eventually terminated it citing delays.