NTPC signs MoU with Bihar

New Delhi:
NTPC Ltd has signed an agreement with the Bihar Government and the Bihar State Electricity Board (BSEB) to promote a joint venture company. A memorandum of understanding was signed between the power major and BSEB on October 14, NTPC said in a statement to the Bombay Stock Exchange. “The joint venture company will help in establishing and operating a 3X660 MW coal-based thermal power project at Nabinagar site in Aurangabad district in the Slate of Bihar,” it sa id. The joint venture shall have equal participation between NTPC and BSEB with power allocation to BSEB of up to 75 per cent, the company said. Also, the remaining power is expected to be made available for supply to other States, it added.