NTPC, Coal India to buid 1,500MW plants

NTPC and Coal India (CIL) will sign an agreement soon to float a joint venture special purpose vehicle (SPV) to build two power plants of 1,500 MW and develop two coal mines in Jharkhand at an estimated cost of Rs 8,000 crore.

"NTPC and CIL will sign a memorandum of understanding (MoU) to float a SPV to build two integrated power plants at a cost of Rs 7,500 crore and develop two coal mines in Jharkhand at an estimated cost of Rs 500 crore. The draft MoU will be given final shape in the coming days," a top coal ministry official told PTI. 

"NTPC and CIL have been allocated two coal mines - Brahmini and Chichro Patrimal, which together have thermal coal reserves of  2,000 million tonne. The reserves are expected to last for at least 30 years," he added.