BHEL has signed an MoU on 18 November 2009 with Madhya Pradesh Power
Generating Company Ltd for a JV to set up a 1,600 MW thermal power station in
Khandwa district of Madhya Pradesh.
Under the agreement, BHEL and MPPGCL are to set up a JVC with initial equity
being equally subscribed by both partners. Subsequently, the equity is likely to
be diluted so that the stake of both BHEL and MPPGCL is reduced to 26 per cent
each and the balance equity of 48 per cent is subscribed to by financial
institutions, banks and other partners.
According to sources, two units of 800 MW each are to come up in Khandwa at a
total cost of Rs 8,000 crore. The power station is likely to take five years for
completion.
Also See:
BHEL
to set up power plant at Singur (13-Nov-09)