Nava Bharat starts work on power plant, coal mine in Zambia

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Nava Bharat starts work on power plant, coal mine in Zambia
V. Rishi Kumar

Hyderabad, June 11:

Nava Bharat Ventures Ltd has commenced work on its 2x150 MW (300 MW) power plant in Zambia.

It is also taking up production of coal at the Maamba Collieries Ltd.

The company plans to invest up to $750 million in the thermal power plant and coal mining activity, according to Mr G.R.K. Prasad, Executive Director, Nava Bharat Ventures. Funding for the project is being handled through banks based out there.

The Hyderabad-based company, which is into power generation, sugar and ferro alloys, has enlisted the services of a Chinese company, Sepco, to implement the power plant project, after securing various mandatory clearances from the Zambian Government.
Coal Capacity

Mr Prasad said the company has begun production of coal from its mines and expects to sell them in Zambia as per the agreement entered into while acquiring stake in the coal-mine project.

Nava Bharat Ventures Ltd plans to produce about 400,000 tonnes of coal this year, take it up to 600,000 tonnes next year and thereafter to one million tonnes per annum by 2015.

The Zambian Government provided the project notice in April, paving the way for the firm to take up work on the project. The coal-mine project has an associated washery, set up by a South African company.
PIPELINE PROJECTS

The company now has an installed capacity of 228 MW of power, including 94 MW in Orissa. The company's 64-MW coal project will be ready in three months and another 150 MW, being implemented by a subsidiary, is likely to be ready by 2013.