NTPC, BHEL edge higher after Union Govt announces setting up of hi-tech thermal plant

NTPC and Bharat Heavy Electricals (BHEL) advanced in trade today after the Union Government announced that a joint venture of the two companies will set up full-scale 800 MW commercial plant using AUSC technology.

On the BSE, NTPC added 2.15% to Rs 381.60 while Bharat Heavy Electricals gained 1.25% to Rs 308.70.

As per reports, the aforementioned AUSC technology has been developed indigenously through a consortium of Bharat Heavy Electricals Limited, Indira Gandhi Centre for Atomic Research and NTPC. The central government has reportedly spent Rs 1,554 crore on developing the technology.

The Union Finance Minsiter said: "Government to partner with partner with private sector to set up Bharat small reactors. Joint venture between NTPC and BHEL to set up full-scale 800 MW commercial plant using AUSC (Advanced Ultra Supercritical) technology. Government to provide required fiscal support for NTPC, BHEL JV."

Finance Minister Nirmala Sitharaman is presenting the first Union Budget of the Modi 3.0 government and her 7th consecutive one during the Monsoon Session of Parliament.

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