NTPC offers Qatar 40% stake in Kayamkulam unit

NTPC has offered Qatar Investment Board (QIB) up to 40% stake in its gas-fired Kayamkulam power project in Kerala.

"We have sent an MoU to QIB, and are awaiting a response," T Sankaralingam, chairman and MD of NTPC, said.

NTPC's offer to the Qatar-based body follows the power ministry's suggestions to central public sector units under its administrative control to identify projects for attracting investment from West Asian countries.

The Kayamkulam project has a current installed generation capacity of 350 MW, and the company is expanding the plant by 1,950 MW at an estimated investment of Rs 6,000 crore.

The joint venture with QIB is only an equity partnership and did not involve gas purchase deal, a senior NTPC official said.