NTPC has announced the transfer of the Kerandari Coal Mine to its wholly-owned subsidiary NTPC Mining (NML) on December 1.
This move follows earlier transfers, including the Chatti Bariatu and Badam Coal Mines in Jharkhand, to NML on 01 October, 2023. The transfer is in line with the amended business transfer agreement (BTA) dated September 17, which stipulates a phased handover of NTPC’s coal mining assets, including six coal blocks, along with related assets and liabilities.
The process is being conducted on a slump sale basis and must be completed within a year from the BTA’s signing, subject to necessary approvals. The move is part of NTPC's strategy to streamline operations and focus on its core power generation business.