Cabinet enhances governing powers of NPCIL's board of directors

New Delhi, Feb 7 : The Union Cabinet today gave its approval for enhancement of governing powers of the board of directors of Nuclear Power Corporation of India Limited (NPCIL).

The enhancement of powers has been done to incur capital expenditure, investment towards establishing financial joint ventures and wholly owned subsidiaries in India or abroad, and for delegation of powers to Secretary, Department of Atomic Energy (DAE) to approve the tours abroad of Chairman and Managing Director (CMD), NPCIL.

The enhanced delegation would facilitate NPCIL to incur capital expenditure upto five billion rupees without government approval, within the overall ceiling of 15 per cent of the net worth of the company in one project with overall ceiling on all projects put together restricted to 30 per cent of the net work of the company with a view to reduce gestation period and also to invest its surplus funds in establishing financial joint ventures and subsidiaries

ANI