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Outcome of board meeting of REC

Capital Market 

At meeting held on 05 December 2018

The Board of REC at its meeting held on 05 December 2018 approved the following -

1. Incorporation of Joint Venture Company between (RECTPCL) and (MSETCL) for exploration of new business opportunities in Power Sector in and abroad;

2. Sale and transfer of Jawaharpur Firozabad Transmission, a wholly-owned subsidiary of RECTPCL and also of REC (in terms of Section 2(87) of the Companies Act, 2013), to of India, which has emerged as the Successful Bidder (L1), through Tariff Based Competitive Bidding Process, for 'Evacuation of Power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines'.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 18:27 IST