 "ntpc")
Troubled public-sector assets now have a new saviour: other cash-rich public sector undertakings. With state-owned companies, this seems to be the chosen way forward.
Thus, ONGC announced in December that it will buy Gujarat State Petroleum Corporation’s 80 per cent stake in the Deen Dayal Upadhyay West field and six other finds in the KG Basin for $1.2 billion. More recently, National Thermal Power Corporation agreed to take over Rajasthan government’s Chhabra thermal power plant in an equity-for-asset deal.
Both the bail-outs, incidentally, are of assets that happen to be based in BJP-ruled states.
GSPC incurred debt
Thus, ONGC announced in December that it will buy Gujarat State Petroleum Corporation’s 80 per cent stake in the Deen Dayal Upadhyay West field and six other finds in the KG Basin for $1.2 billion. More recently, National Thermal Power Corporation agreed to take over Rajasthan government’s Chhabra thermal power plant in an equity-for-asset deal.
Both the bail-outs, incidentally, are of assets that happen to be based in BJP-ruled states.
GSPC incurred debt
