Coal India has recently informed exchanges that the company has signed a joint venture agreement with Rajya Vidyut Utpadan Nigam to establish a 2×800 MW brownfield thermal power project in RRUVNL’s existing Kalisindh thermal power station, as well as undertake any other thermal power business-related projects, including renewable generation obligations.

Significant terms of the agreement:

  1. The Joint Venture Company shall be incorporated as a “Private Limited” Company.
  2.  Initial paid-up share capital of JVC shall be INR 10,00,000.
  3. The authorized share capital of the JVC shall be INR 10,00,00,000/-(INR Ten crores) comprising of 1,00,00,000 Equity Shares at Rs. 10/- each.
  4. The registered office of the JVC shall be situated at Jaipur, Rajasthan India.
  5. CIL and RRVUNL each shall have the right to nominate four and two executives as Directors of JVC respectively.
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TOPICS: Coal India