NTPC board okays Rs 500cr investment in RGPL

National Thermal Power Corporation (NTPC) board at its meeting held on July 09, 2005, has approved an investment of upto Rs 500 crore as share application money in the equity capital of Ratnagiri Gas and Power (RGPL)

According to a NTPC release issued to the BSE, the investement is subject approval by the Cabinet Committee on Economic Affairs or relaxation of power granted by Government of India to NTPC for the purpose of acquisition of assets and investment in JVC.

The GAIL board, too, has approved the investment of Rs. 500 crore by in the equity of RGPL, the release said further.