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Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER


National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with Steel Authority of India, Coal India Ltd, Rashtriya Ispat Nigam Ltd and NMDC Ltd.

The joint venture has resulted in the incorporation of a company, International Coal Ventures Private Limited, on May 20, 2009. The announcement regarding the same was made by NTPC on 21st May 2009.
 
In the shares of International Coal Ventures Pvt Ltd, the ratio of equity sharing holding would be 2:2:1:1:1, between SAIL, CIL, RINL, NMDC and NTPC, respectively. The main aim behind the incorporation of the new company is to carry on business for overseas acquisition.

Along with that, the new identity will also be involved in operation of coal mines or blocks and/or Companies for securing coking and thermal coal supplies.

Source:
India Server  



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