NTPC-Coal India joint venture to develop coal mines

National Thermal Power Corporation (NTPC) and Coal India Ltd today signed an agreement for setting up a joint venture for developing coal mines to feed NTPC's Farakka and Kahalgaon thermal projects.

Under the agreement, NTPC and CIL, both state-owned units, will incorporate a joint venture company with 50:50 equity participation for development of Brahmini and Chichro Patsimal coal mine blocks for meeting coal requirement of Farakka and Kahalgaon expansion projects of NTPC.

After meeting the coal requirements of these projects, the JV would also consider implementation of integrated thermal power plant, if found feasible.

RK Jain, director (tech), NTPC and NC Jha, director (tech), CIL signed the agreement on behalf of the two `Navratna' PSUS in presence of R S Sharma, CMD of NTPC and PS Bhattacharyya, chairman of CIL as also other directors on the boards of CIL and NTPC.