State-run power producer NTPC has signed a joint venture agreement (JVA) with state-run miner Coal India to revive plants of the Fertilizer Corporation of India Limited (FCIL). The joint venture company will take up the revival of FCIL plants at Sindri in Bihar and Gorakhpur in Uttar Pradesh by setting up an ammonia urea plant at each location.

The JV company would initially be incorporated with 50:50 equity participation from both, but also “contains provision of inducting strategic partners at a later date depending upon business requirement of JV company”. The JVA was signed by NTPC’s general manager (BD) Arun Kumar Gupta and Coal India’s general manager (Coal Videsh) T. Bandopadhyay.

Did You Know?

• NTPC Limited (previously known as National Thermal Power Corporation Limited) is an Indian central Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, engaged in the business ofgeneration of electricity and allied activities.
• It is a company incorporated under the Companies Act 1956 and a “Government Company” within the meaning of the act. The headquarters of the company is situated at New Delhi.
• NTPC’s core business is generation and sale of electricity to state-owned power distribution companies and State Electricity Boards in India.
• The company also undertakes consultancy and turnkey project contracts that involve engineering, project management, construction management and operation and management of power plants.