New Delhi, Aug 2 :     Thapar group scion Vikram Thapar is entering the coal mining business in a bid to re-establish himself as an independent entrepreneur. The move comes within months of his having been divested of direct managerial control in group flagship Ballarpur Industries Ltd by his uncle and group chairman L.M. Thapar. To begin with, Vikram Thapar is working on a majority equity partnership in a captive coal mine for a US-promoted power project in Orissa. Thapar, however, was not willing to reveal at this stage the name of the US collaborator as he was bound by a joint venture agreement. The 3 million tonne captive coal mine in Orissa is estimated to cost about Rs 250 crore and will be funded through an equity infusion of Rs 100 crore and by raising Rs 150 crore in debt. Thapar is at present negotiating for a 74 per cent equity stake in the venture. ?We are at present negotiating for a 74 per cent stake as we would like to take up as high a stake as possible and eventually go public. By law, the owner of a power plant will have to hold a minimum of 26 per cent in the mining plant since it is attached to the power plant. The tieup will be finalised by September,? Thapar said. Thapar?s proposed entry will be spearheaded through KCT Coal Sales Ltd, once the holding company for various Thapar group operations. KCT, set up by the late Karam Chand Thapar, was once one of the largest private sector coal mining companies prior to its nationalisation. ?I am planning to revive KCT?s coal mining business in a major way,? Thapar added. For this, KCT Coal Sales has drawn up an ambitious plan of setting up as many as seven coal mining plants in several parts of the country which includes Gujarat, Tamil Nadu, Maharashtra and Karnataka. Thapar will be in Gujarat this week to discuss his plans with state officials. According to company estimates, while Gujarat requires about 12 million tonnes per annum of coal, Tamil Nadu requires about 16 mt, Maharashtra about 12 mt and Karnataka 6 mt. KCT Coal Sales profits dipped to Rs 39.14 crore for the year ended March 31 compared with Rs 67.36 crore during the previous year.