Govt approves JV by Railways, NTPC

New Delhi, Feb 1 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today approved a joint venture plan by the Railways and NTPC Limited with an authorised capital of Rs 1,605.75 crore.

While NTPC will have 74 per cent equity, the Railways will have a share of 26 per cent in Bhartiya Rail Bijlee Company Ltd.

Since the project capacity is 1,000 MW and power will be supplied in more than one state, financial concessions and benefits by way of custom and excise duties exemption will be extended.

The project will have an investment of Rs 1,188.26 crore by NTPC and Rs 417.50 crore by the Railways towards equity.

The entire power generated from this project will be made available to the Railways.

UNI