In a bid to diversify its portfolio, the state-owned National Thermal Power Corporation proposes to foray into new areas, including coal mining and coal washeries, through the joint venture route where it would hold minority stake.

"We have requested the coal ministry for grant of captive coal mining blocks in Talcher region," C P Jain, chairman and managing director, NTPC, told PTI on the sidelines of an international conference on thermal power generation, in New Delhi.

Jain said the thermal power major would hold 26 per cent stake in the new venture, offering the rest to a strategic partner who would bring in the requisite experience.

Two to three blocks have been identified by the corporation in Talcher belt in Orissa, keeping in mind the requirements of the company in the region where it already operates two power stations -- Kaniha and Talcher.

NTPC would soon depute a team of officials to South Africa to examine the coal mining scenario, considered similar to Indian conditions, Jain added.

"The officials would examine how coal producers have managed to produce coal at half the price offered by Indian operators," he said.

Besides offering a secure source of fuel, captive mining would also ensure cost competitiveness.

NPTC was earlier engaged in talks with Coal India for a joint venture to mine captive blocks.

In the case of coal washeries, NTPC proposes to follow a similar route by floating a company in which it would hold minority stake while inducting a strategic partner.

The coal washery would be set up at Amroli in Singrauli belt falling in the catchement area of Northern Coalfields. It has mandated Central Mine Planning and Design Institute to act as advisors.

NTPC is expected to invite bids for partners within the next two to three months, Jain added.

The move to diversify into coal sector is part of the company's strategy for future development which has seen NTPC float as many as three subsidiaries for power distribution, hydro power and power trading.

NPTC has established generation capacity to the tune of 20,000 MW mainly through gas and coal-based stations and is in the process of doubling its capacity to 40,000 MW over the next few years.