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The Economic Times

Business

Veer Sharma

NALCO shares in focus on JV with NLC India for 1,080 MW thermal plant in Odisha

NALCO NLC India Odisha aluminium Coal Electricity Renewable Energy

Shares of state-owned National Aluminium Company Ltd (NALCO) and NLC India will be in focus on Thursday after the company said that it has entered into a joint venture agreement with state-owned NLC India Ltd (NLCIL) to set up a 4x270 MW (1,080 MW) captive thermal power plant at Angul in Odisha.

The two public sector companies signed the agreement on Wednesday, July 8, to incorporate a joint venture company for the project. The proposed entity will be jointly owned, with NALCO and NLC India each holding a 50% equity stake following its incorporation.

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