NMDC signs pact with IEDCL to set up JV power plant

NMDC Power Limited (NPL), a wholly owned subsidiary NMDC Limited, has inked an agreement with IEDCL, a subsidiary of IL&FS to set up a 2x250 Mw thermal power plant under Joint Venture at Gonda, Uttar Pradesh.

The MoU was signed between Hari Sankaran, Vice Chairman and MD IL&FS and N.K. Nanda, Chairman, NMDC Power Limited. The project is estimated to be completed within three years at an approximate cost of around 3,000 crores.

Speaking on the occasion, Union Minister of Steel, Beni Prasad Verma said, "Establishment of power plant at Gonda will encourage potential agro based industries and help in ensuring better living and industrial growth in the region.

He further added that the project would pave way for faster development of the area and opening of newer avenues of employment for the people of Gonda.

The Minister of Steel expressed hope that the partnership between NPL and IEDCL will help in establishing an efficient power plant at Gonda. He said that IEDCL will drive the project and the joint venture will prove to be extremely successful.

Dion Global Solutions Ltd.

Story first published: Thursday, August 22, 2013, 12:31 [IST]
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