NTPC clears Rs 7,245-cr proposals

New Delhi: NTPC Ltd’s board of directors on Monday cleared investment proposals of Rs 7,244.9 crore. According to a statement issued by NTPC to the BSE, the company will set up a greenfield 2x500 MW coal-based power plant in Mauda, Amravati district, Maharashtra entailing an investment of Rs 5,459.3 crore. NTPC will also carry out renovation and modernisation of the 645 MW gas-based plant at Kawas for Rs 597.4 crore. The board also approved a proposal for the company to pick up a 74 per cent stake in a joint venture company with the Railways — Bhartiya Rail Bijlee Company (BRBCL) by investing Rs 1,188.2 crore. BRBCL will set up 4x250 MW thermal power generation facility at Nabhinagar in Bihar.