NTPC and BHEL JV to sell 50% stake

September 04, 2008


NTPC and BHEL JV to sell 50% stake
BL reported that NTPC and BHEL Power Projects Private Limited a newly formed JV between state owned equipment maker Bharat Heavy Electricals Limited and power generation major NTPC Limited plans to sell up to a 50% stake to private companies.

BHEL and NTPC currently hold equal stakes in the JV that was formed in April this year to produce power equipment and build power stations in India and abroad.

A statement from BHEL said that “NTPC BHEL Power is planning to dilute its shares up to 50% with a view to inviting private partners to improve overall effectiveness and efficiency.” The statement did not provide any timeframe for the stake sale or the amount of money that will be raised through the transaction.

The release said that NBPPL will have a capacity of 5,000 MW a year by 2014-15 at an investment of INR 6,000 crore. It also said that Mr CP Singh director of BHEL’s has been appointed as the CMD of the JV Company.




Source:
http://steelguru.com/news/index/2008/09/04/NjE0Mzk%3D/NTPC_and_BHEL_JV_to_sell_50%252525_stake.html