Rs 5 cr BHEL-NTPV JV company incorporated

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New Delhi, Apr 29 (UNI) Bharat Heavy Electricals Ltd (BHEL) and National Thermal Power Corporation (NTPC) today set up a joint venture company called 'NTPC-BHEL Power Projects Pvt Ltd' with an initial paid up capital of Rs five crore.

The certificate of incorporation was handed over by the heads of the two companies to their counterpart ministers-- Heavy Industries Minister Santosh Mohan Dev and Power Minister Sushil Kumar Shinde.

The JVC, with equal investment by BHEL and NTPC, will carry out EPC contracts for power plants and other infrastructure projects as well as for manufacture and supply of equipment in India and abroad.

The two companies had signed the joint venture agreement on December 17, 2007 and a supplementary agreement on January 11 this year.

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