NTPC to set up joint venture firm with BSEB

MUMBAI: National Thermal Power Corporation (NTPC) on Thursday said it has signed an agreement with Bihar State Electricity Board (BSEB) to form a joint venture company to establish, operate and maintain a thermal power project in the state.

The firm has signed a Joint Venture Agreement (JVA) with BSEB to form a company, which would undertake the establishment and operation and maintenance of a 1980 MW (3X660 MW) coal-based thermal power project at Nabinagar in Aurangabad district, it said in a filing to the Bombay Stock Exchange.

Both NTPC and BSEB would have equal shareholding (50:50) in the proposed joint venture company.

Shares of the firm closed at Rs 200.75, up 6.84 per cent at the BSE.