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DVC to boost power capacity

KOLKATA: Damodar Valley Corporation (DVC), independent India’s first statutory corporation, is planning to set up a wholly-owned subsidiary to tap the capital market, Union Minister of State for Power, Jairam Ramesh, said.

Addressing a press conference here on Friday he said management consultancy firm KPMG had been hired to examine the proposal. The report would be ready by May-end.

The move was aimed at allowing DVC to access market funds, since it could not go public in its present form.

DVC was set up through an Act of Parliament and is owned by the Centre and the State governments of West Bengal and Jharkhand.

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