State-run power producer NTPC on Thursday said it has formed a joint venture with the Uttar Pradesh Rajya Vidyut Utpadan Nigam to build a 1,320-megawatt (mw) thermal power plant near Allahabad..
The agreement for the super critical thermal power project, which was signed by the CMD of the Uttar Pradesh Power Corporation Limited, GB Patanaik and CMD of NTPC, T Shankarlingam, is the first such joint venture between the two.
The project cost has been estimated around Rs 7,200 crore. Speaking at the agreement signing ceremony here Shankarlingam said, ?Two units of 650 mw each would have a 50:50 partnership between the two parties and added that a separate joint venture company would be constituted soon. He also said that the project would be completed within its stipulated time of 4 years.?
While 75% of the power generated from the project would go to Uttar Pradesh, the management of the company would remain with the NTPC. It may be recalled that apart from this project, a few other joint venture projects between the NTPC and the UP Utpadan Nigam are to come up shortly. These are the 4,000-mw plant at Lalitpur, a 800×2 Obhra extension project and the 1,000 mw Anpara D project.