Cabinet nod for JV between Railways and NTPC
02 Feb 2007
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The government has approved a joint venture between NTPC and the Indian Railways for setting up a thermal power plant at Nabinagar in Bihar to meet the power requirements of the railways across the country.
The JV will be set up and managed by NTPC.
Bharatiya Rail Bijlee, as the JV company will be called, will execute the 1,000 MW power plant with NTPC holding 74-per cent equity with Indian Railways holding the balance. The plant will require an investment of Rs5,352 crore.
The company will have a seed capital of Rs10 crore and an authorised capital of Rs1,605.75 crore. NTPC will make an investment of Rs1,188.26 crore while the railways will provide Rs417.50 crore towards the equity.
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