Mumbai: Public sector firms Nuclear Power Corporation of India Ltd (NPCIL) and National Thermal Power Corporation (NTPC) on Saturday signed a memorandum of understanding (MoU) to incorporate a joint venture for setting up nuclear power plants.
The MoU was signed by S K Jain, chairman and managing director of NPCIL and his NTPC counterpart R S Sharma in the presence of union minister of State for Commerce and Power Jairam Ramesh and Atomic Energy Commission chairman Anil Kakodkar.
As per the agreement, the joint venture will have 51:49 share holding between NPCIL and NTPC.
NTPC will invest around Rs1,000 crore for setting up nuclear power plants of at least 2, 000 MW capacity, according to Sharma.
The proposed company will employ the indigenous technology of NPCIL which uses natural uranium and heavy water.