State-run NTPC today said that it has entered into an agreement with Jammu and Kashmir State Power Development Corporation Ltd (JKSPDCL) to form a joint venture (JV) company for mining at Kudanali-Luburi coal block in Odisha.
NTPC and JKSPDCL will share equity in the ratio of 67:33 in the joint venture company for undertaking exploration, development and operation of jointly allocated Kudanali-Luburi coal block by Coal Ministry to them, NTPC Ltd said in a BSE filing.
Earlier, a Power Ministry statement had said that a JV agreement, which was signed during a review meeting over power sector of Jammu and Kashmir, presided over by Power Minister Piyush Goyal between NTPC-JKSPDCL was assigned for development of coal mine for power generation.
During the meeting, Goyal promised all help from the central government for expeditious development of conventional and non-conventional energy sources of the state.
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