NTPC forms JV with Singareni Collieries
Power major NTPC and Singareni Collieries have joined hands to undertake various activities in coal and power sectors, including acquisition of coal blocks.
By PTI |
NEW DELHI: Power major NTPC and Singareni Collieries have joined hands to undertake various activities in coal and power sectors, including acquisition of coal blocks.
The joint venture company will undertake jobs like acquisition of coal/lignite mining blocks for exploration, development, mini benefaction, processing, operation and maintenance and selling the coal/lignite produced thereof in India and abroad.
The JV also envisages developing, operating and maintaining integrated coal based plants and sell the electricity generated. The company is also planning to get into consultancy services.
"The MoU will leverage both the companies to pool in their expertise in coal mining and O&M of power plants and pave the way to put up integrated coal based power stations in India and abroad," NTPC said in a statement.
NTPC CMD T Sankaralingam and SCCL CMD R H Khwaja signed the MoU inthe presence of Andhra Pradesh Chief Minister Rajashekhara Reddy at Hyderabad.
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NTPC has announced an ambitious growth plan of becoming a 51,000 MW plus company by 2012."This MoU is one of the major steps taken by NTPC to ensure fuel security and competitiveness," the company said.
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