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Bihar hands over three power units to NTPC

Press Trust of India  |  Patna 

Bihar today handed over its three units to the NTPC, hoping to save more than Rs 800 crore every year.

A memorandum of understanding (MoU) in this regard was exchanged here in presence of Bihar Nitish Kumar and of State for Power (Independent Charge) R K Singh.

As per the agreement, the units at Kanti in district, Barauni in Begusarai and Nabinagar in Aurangabad were handed over by the state to the NTPC, a Maharatna company.

MoU was exchanged between National (Commercial) A K Gupta and R Lakshmanan, of South Bihar Power (SBPDCL) and the Bihar State (BSPGCL), an official release said.

The MoU, which follows a cabinet decision taken to the effect on April 17 last, is expected to result in annual savings of Rs 875.06 crore for the state, the release said.

Speaking on the occasion, the said handing over of the three power units to the would facilitate improved power generation and availability of to consumers at lower rates.

The Union Power Minister, who also represents Ara in the state in the Lok Sabha, hailed the decision to hand over the three units to and said it reflected the foresight of the

The three thermal power units have been handed over to the on a 30-year-lease, the states Principal Secretary, Power, told reporters later.

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

First Published: Tue, May 15 2018. 19:25 IST