Bayan secures 1mtpa coal supply contract to India
Thursday, February 23 2012 - 10:31 AM WIB
Singapore-listed firm announced on Thursday that its joint venture in India, Thermal Powertech Corporation India (TPCIL), has signed an agreement with PT Bayan Resources Tbk for the supply of approximately one million tons per year of coal over 10 years.
The contract, which is for an aggregate of 10 million tons of coal, is expected to commence in 2014.
Sembcorp owns a 49% stake in TPCIL through its wholly-owned subsidiary, Sembcorp Utilities, while Gayatri Energy Ventures, a wholly-owned subsidiary of Gayatri Projects, owns the other 51% in TPCIL.
With plant construction progressing on track at the project site in Krishnapatnam in Andhra Pradesh?s SPSR Nellore District, this coal agreement marks yet another significant milestone for Sembcorp?s first Indian power plant project, a 1,320-megawatt coal-fired power plant.
The S$1.9 billion power plant will apply high efficiency supercritical technology which allows for enhanced efficiency, thereby reducing emissions of carbon dioxide and other pollutants by consuming less fuel per unit of electricity generated compared to conventional sub-critical coal-fired generating units.
Editing by David Mustakim