Up to date: Jul 04, 2020 11:05 IST
Neyveli (Tamil Nadu) [India], July 4 (ANI): Authorities-owned mining majors NLC India Ltd and Coal India Ltd have fashioned a joint venture to develop solar and thermal power assets to the tune of 5,000 megawatts of energy.
Each firms will maintain equal 50:50 equity within the joint venture firm.
“This marks a brand new period within the energy sector with synergy and expertise of two central public sector undertakings underneath the Ministry of Coal,” NLC India stated in a press release.
The corporate — earlier often called Neyveli Lignite Company — has an influence technology capability of 5,192 megawatts in addition to lignite mining capability of 30 million tonnes each year.
Its projected capital expenditure as much as the yr 2025 is Rs 1.28 lakh crore with a debt-equity ratio of 70:30.
Coal India is the one largest coal producer worldwide and operates via 83 mining areas unfold over eight states in India. It produces 607 million tonnes of coal yearly. (ANI)