DJ NTPC Chairman: Plan To Bid For Bandanna Energy Stake By July...

DJ NTPC Chairman: Plan To Bid For Bandanna Energy Stake By July 29

NEW DELHI (Dow Jones)--NTPC Ltd. (532555.BY) plans to make a final bid for a stake in
Australian miner Bandanna Energy Ltd. (BND.AU) by July 29, the Indian power
producer's chairman and managing director said Wednesday.
"We're considering the stake we should buy in Bandanna," Arup Roy
Choudhury told reporters. He declined to disclose the size of the stake being considered.

In May, Bandanna Energy said it received several preliminary bids for its assets, which
include 16 exploration permits in the Bowen and Galilee basins of the coal-rich
Queensland state, plus licenses to explore for minerals and oil shale.
Choudhury also said that state-run NTPC has cut its generation capacity target to 70
gigawatts by March 2017, from 75 GW earlier, due to coal supply and land acquisition
issues.