The equity participation in the proposed JV will be in the ratio of 50:50 between both the firms.
NLC India, a Navratna CPSE and Coal India, a Maharatna CPSE, both under the administrative control of Ministry of Coal, executed a joint venture agreement on 3 July 2020 for formation of a joint venture company to develop solar and thermal power assets to the tune of 5,000 MW on pan India basis.The equity participation in the proposed JVC between Coal India and NLC India will be in the ratio of 50:50. "This JV company marks a new era in the power sector, with the synergy and expertise of two Central Public Sector Undertakings under the Ministry of Coal," the statement said.
On Friday (3 July), shares of NLC India rose 1.32% to close at Rs 46 and Coal India rose 1.12% to Rs 135.15.
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