NTPC Ltd and Railways to set up a Joint Venture Company

Kolkata, Nov 06 (UNI) The National Thermal Power Corporation Ltd (NTPC) and the Railway Ministry today signed a Joint Venture (JV) agreement for setting up a a 1,000 MW [4x250 MW] power plant at Nabinagar in Aurangabad district of Bihar.

The agreement was signed at New Delhi by EEM, Railways, Mr Sudheer Kumar and NTPC Ltd Director (Commercial) R S Sharma, on behalf of the respective organisations.

An NTPC release issued here stated that the NTPC will have an equity of 74 per cent while the Railways the rest.

As per the Cabinet approval, 90 per cent of the power will be supplied to the Railways and 10 per cent to others as it will primarily be a captive power plant for the Railways, the release added.

Union Power Minister Sushilkumar Shinde, Railway Minister Lalu Prasad, Power Secretary Anil Razdan, NTPC Chief Managing Director T Sankaralingam and senior officials from the two Ministries and NTPC Ltd were present on the occasion.

The project was expected to be completed within the 11th Plan, the release added.

UNI