NTPC and NPCIL sign JV agreement
NTPC Limited and Nuclear Power Corporation of India Limited (NPCIL) have signed a Joint Venture Agreement in New Delhi according to a statement released. The JV has been signed for the formation of a Public Limited Company to set up nuclear power project with two nuclear reactor units which may be extended for setting-up additional Nuclear Power Projects subject to techno-economic viability. The proposed Joint Venture Company will be a subsidiary of NPCIL in which NPCIL shall hold 51% equity and the balance 49% will be held by NTPC Limited.
RS Sharma, CMD, NTPC and SK Jain, CMD, NPCIL inked the JV Agreement in the presence of Sushilkumar Shinde, Union Minister of Power, Prithviraj Chavan, Union Minister of State for Science & Technology & PMO and Bharatsinh Solanki, Minister of State for Power.
NPCIL has comprehensive capability in all facets of nuclear power generation technology namely – site selection, design, construction, commissioning, operation, maintenance and life extension and has plans for significant capacity addition.
NTPC is the largest power generation company in India with an installed capacity of 31704 MW. NTPC is emerging as an integrated Power Major with presence in Thermal & Hydro Power, Renewable, Coal mining, Oil & Gas exploration and sale of power to various States power utilities and other bulk customers. NTPC has established itself in the field of development of Thermal Power Projects and has proven track record in engineering, contracts, project management and power generation and intends to enlarge the area of its operation by foraying into Nuclear Power Development.