International Coal Ventures Pvt Ltd., after buying coal-mine in Mozambique for $50 million from Rio Tinto Group earlier this year, now plans to build a power plant in the naturally beautiful African country.
ICVL, A Delhi based group which exports coking coal for steelmaking from Mozambique will use some of the thermal coal and waste product to generate coal-fired power locally.
Tete, country’s richest coal reserves and north west province of Mozambique has many proposed power projects to come up, ICVL’s Benga asset will be one of these power projects. Tete is also a home to the 2,075-megawatt Cahora Bassa hydroelectric plant, supplying power to Mozambique and its neibhouring countries of South Africa, Zimbabwe and Zambia.
ICVL is co-owned by Steel Authority of India Ltd., Rashtriya Ispat Nigam Ltd., NMDC Ltd., NTPC Ltd. and Coal India Ltd.
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