02-10-2008, 07:47 PM
NTPC, Bharat Forge in JV for power plant components
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->7 Feb, 2008, 2212 hrs IST, REUTERS
NEW DELHI: India's state-run power producer NTPC Ltd will form a joint venture with Bharat Forge Ltd to make power plant components, with an initial investment of Rs 30 billion, an official said.
"We will sign a memorandum of understanding with Bharat Forge on Thursday itself," NTPC chairman T. Sankaralingam said.
Initially the proposed plant would manufacture castings and forgings used for power plants, he said.
Bharat Forge would hold the majority 51 percent in the JV with NTPC owning the rest, he said.
Once formed, the new joint venture would also bid for tenders and at a later date may manufacture primary power plant equipment like turbines and boilers, he said.<!--QuoteEnd--><!--QuoteEEnd-->
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->7 Feb, 2008, 2212 hrs IST, REUTERS
NEW DELHI: India's state-run power producer NTPC Ltd will form a joint venture with Bharat Forge Ltd to make power plant components, with an initial investment of Rs 30 billion, an official said.
"We will sign a memorandum of understanding with Bharat Forge on Thursday itself," NTPC chairman T. Sankaralingam said.
Initially the proposed plant would manufacture castings and forgings used for power plants, he said.
Bharat Forge would hold the majority 51 percent in the JV with NTPC owning the rest, he said.
Once formed, the new joint venture would also bid for tenders and at a later date may manufacture primary power plant equipment like turbines and boilers, he said.<!--QuoteEnd--><!--QuoteEEnd-->