DVC To Form JV With Neyveli Lignite For Raghunathpur Plant

Damodar Valley Corporation (DVC) has decided to bring its 2×600 MW Raghunathpur thermal power project under a joint venture with Neyveli Lignite Corporation (NLC), offering NLC 74% stake while retaining 26% with itself.

As per the DVC chairman Andrew WK Langstieh the two units of 1200 MW Raghunathpur project have already started commercial operation on March 31 this year but the DVC has power purchase agreements of only 550 MW. NLC, which is yet to set up a new thermal power unit, has PPAs of 650 MW in Karnataka. So both the corporations have decided to form a JV following clearances from the power and coal ministries.

The proceeds of the stake sale would be used to repay the debt. Earlier, talks between DVC and NTPC could not crystallise into a deal. During the last financial year, DVC had been able to recover dues worth Rs 4,770 crore from the Jharkhand government.

About Damodar Valley Corporation:
The Damodar Valley Corporation is Public company which operates several power stations in the Damodar River area of West Bengal and Jharkhand states of India.  The company operates both thermal power stations and hydel power stations under the Ministry of Power Govt of India. DVC is headquartered in the city of Kolkata, West Bengal, India.
Extra info:
1. Neyveli Lignite Corporation (NLC)
2.Damodar Valley Corporation (DVC)
3. Raghunathpur Thermal Power Station (RTPS)
4. DVC chairman Andrew WK Langstieh
5.DVC is headquartered in the city of Kolkata, West Bengal

So lets do:
1. Expand  NLC,DVC and RTPS?
2. Who is the DVC chairman?
3. Where is DVC headquarter situated?

Source – The Hindu


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