India`s biggest thermal power manufacturer, National Thermal Power Corporation (NTPC) inked a memorandum of understanding (MoU) with Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL) today. As per the terms of MoU, they will form a joint venture company (JVC) to establish and operate 2 X 660 MW coal based thermal power project at Meja tehsil or any other suitable site in Allahabad district in the state of Uttar Pradesh. The project is however subject to establishment of techno-commercial viability and other clearances. JVC shall be formed with equal equity participation from the company and UPRVUNL.Shares of the company declined Rs 11.95, or 4.99%, to settle at Rs 227.55. The total volume of shares traded was 6,274,282 at the BSE. (Thursday)
Source : Myiris
23rd November, 2007