NTPC, BHEL, JV firm in pact to meet 2010-11 financial goals

NTPC-BHEL Power Projects Ltd today entered into an agreement with its JV partners-- NPTC and BHEL-- to meet 2010-11 financial objectives, which included the target of having a Rs 7,000-crore order book.

"This is a major initiative taken to ensure fast track growth of NBPPL by providing greater functional autonomy and empowerment in achieving laid down objectives of the company," the joint venture entity said in a statement here.

The MoU for the current fiscal was signed among NTPC CMD R S Sharma, BHEL CMD B P Rao and NBPPL CMD C P Singh. The pact will help the JV partners in "achieving financial objectives set in the MoU for the various parameters," it said.

At present, NBPPL is working on the 100 MW Namrup Power Station, Assam, and 726 MW CCPP-Palatana of ONGC Tripura Power Corporation. The JV entity will take up execution of 500 MW Singrauli Thermal Power Plant and 600 MW Thermal Power Plant at Rayalseema of Andhra Pradesh Power Generation Corporation Ltd (APGENCO), it said.
    
NBPPL, which was incorporated last year as a 50:50 JV firm between NTPC and BHEL "to enhance the capability and capacity of the power sector," is targeting a turnover of Rs 10,000 MW by 2012-15.
    
The company currently has an order book of about Rs 450 crore. It is targeting to have an order book of Rs 7,000 crore by the end of the current fiscal.
    
The JV firm falls under the administrative control of the Ministry of Heavy Industries and Public Industries.