Neyveli Lignite Corporation (NLC) and Damodar Valley Corporation (DVC) are planning a joint venture for hiving off the latter’s loss-making Raghunathpur Thermal Power Station (RTPS), according to a top official.
DVC, whose losses stood at Rs. 1,334 crores in 2014-15, was looking to hive off the plant due to its huge debt servicing obligation of about Rs.50 crores monthly
“ NLC and DVC would become a win-win situation for both,” DVC Chairman Andrew W Langstieh told
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“The proposed joint venture, if we get the necessary approvals, should become a nice fit,” the DVC chairman said. He also said permission had been sought from DVC’s stakeholders.