To beat the severe energy shortage, the National Thermal Power Corporation (NTPC) has signed a memorandum of understanding with the Steel Authority of India, Rashtriya Ispat Nigam, Coal India and National Mineral Development Corporation to form a special purpose vehicle (SPV) for acquiring thermal coal from abroad.According to the release issued by NTPC to the Bombay Stock Exchange today, under the agreement, "the companies will cooperate to create a country specific joint venture company and / or project which may also involve equity participation."
