New Delhi: State-run NTPC today said that it has entered into an agreement with Jammu and Kashmir State Power Development Corporation Ltd (JKSPDCL) to form a joint venture company for mining at Kudanali-Luburi coal block in Odisha.
NTPC and JKSPDCL will share equity in the ratio of 67:33 in the joint venture company for undertaking exploration, development and operation of jointly allocated Kudanali-Luburi coal block by Coal Ministry to them.
"The company signed an agreement on June 15, 2015 with Jammu and Kashmir State Power Development Corporation (JKSPDCL) for promoting a joint venture company with 67:33 equity participation for undertaking exploration, development and operation of jointly allocated Kudanali-Luburi coal block at Odisha by Ministry of Coal," NTPC Ltd said in a BSE filing.
Earlier, a Power Ministry statement had said that a joint venture agreement between NTPC?JKSPDCL was assigned for development of coal mine for power generation.
According to the statement, the agreement was signed during a review meeting over power sector of Jammu and Kashmir, which was presided over by Power Minister Piyush Goyal, on Monday.
During the meeting, Goyal had promised all help from the central government for expeditious development of conventional and non-conventional energy sources of the state.