SJVN jumped 5.42% to Rs 133.15 after the company announced the signing of an MoU with GMR Upper Karnali Hydro Power and IREDA for development of Upper Karnali Hydro Electric Project (900 MW) in Nepal.
The aforementioned entities will form a joint venture (JV) company in Nepal for the execution of this project.
SJVN and GMR will hold 34% shareholding each and IREDA will have 5% shareholding in the proposed JV.
The balance Equity will be held by NEA (Nepal Electricity Authority).
The project shall be developed on BOOT basis with 25 years concessional period after commissioning.
The approximate project cost shall be Rs 9,100 crore. The project is proposed to be funded through 70:30 debt equity ratio.
SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app