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Thermal Powertech Inks Coal Deal With Bayan of Indonesia

  • Thermal Powertech Corporation (India) Ltd, a subsidiary of Gayatri Projects Ltd, today announced signing of an agreement with PT Bayan Resources Tbk (Bayan), based in Indonesia, for the supply of 1 million tonnes of coal per annum for over 10 years.The arrangement for coal supply is expected to start in 2014.Gayatri Projects owns 51 per cent stake through its wholly owned subsidiary Gayatri Energy Ventures Pvt. Ltd in TPCIL, while Sembcorp owns a 49 per cent stake, through its wholly owned subsidiary, Sembcorp Utilities.
  • The agreement was signed by Mr Atul Nargund, CEO of Sembcorp Utilities India, and TPCIL, Mr T.V. Sandeep Reddy, Managing Director of TPCIL and GPL, and Mr Eddie Chin, President Director and CEO of Bayan, as well as Mr David Low, Director of Sales and Marketing of Bayan.Mr Tang Kin Fei, Group President and CEO of Sembcorp, and Mr Low Tuck Kwong, President Commissioner of Bayan, were present at the event.With plant construction progressing as per schedule at 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-MW coal-fired power plant. With the signing of this agreement, TPCIL has secured almost half of the plant’s requirement for imported coal.
  • According to a statement, the Rs 6,869-crore power plant would deploy 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.Listed on the Indonesian stock exchange, Bayan is the sixth largest producer and exporter of thermal coal in Indonesia.

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