Agreement signed on coal and power production
Hyderabad, August 23, 2006The Singareni Collieries Company Limited (SSCL) and the National Thermal Power Corporation (NTPC) signed an agreement to form a joint venture company with an investment of Rs.6000 crores to tap new coal mines within the country and overseas to set up coal based power plants.
The agreement signed by H Khwaja and T.Sankaralingam, CMDs respectively of the SSCL and NTPC on Wednesday in the presence of the Chief Minister Dr YS Rajasekhara Reddy. An annual coal production to target of 50 million tones has been fixed for the joint venture company which will leverage the professional strengths of two public sector companies.
The Chief Minister said a synergy between SSCL and NTPC was the need of the hour as there was huge demand supply gap in the coal and energy. The Chairman and Managing Directors of the both the companies said that this agreement was a milestone achievement.
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