SJVN jumped 5.42% to Rs 133.15 after the company announced the signing of an MoU with GMR Upper Karnali Hydro Power and IREDA for development of Upper Karnali Hydro Electric Project (900 MW) in Nepal.
The aforementioned entities will form a joint venture (JV) company in Nepal for the execution of this project.
SJVN and GMR will hold 34% shareholding each and IREDA will have 5% shareholding in the proposed JV.
The balance Equity will be held by NEA (Nepal Electricity Authority).
The project shall be developed on BOOT basis with 25 years concessional period after commissioning.
Also Read
 "s the Supreme Court begins to hear petitions on NEET-UG, here is a look at the ecosystem it has spawned, and the controversy, paper leak, students studying, preparing for govt exams, competition exams, examination, study books")
 "Mpox in Congo")
 "Anil Dhirubhai Ambani Ventures (ADAVPL), a company owned by Anil Ambani, has approached the National Company Law Tribunal (NCLT) in Mumbai, requesting the court to direct Hinduja-owned IndusInd International Holdings (IIHL) to cease using the ‘Relian")
 "Tata Power")
 "Sophie Devine")
The approximate project cost shall be Rs 9,100 crore. The project is proposed to be funded through 70:30 debt equity ratio.
SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
