NMDC, SAIL, NTPC to invest Rs 2,000 crore in Gonda power plant

NMDC, SAIL, NTPC to invest Rs 2,000 crore in Gonda power plant

State-run firms NMDC, SAIL and NTPC are likely to invest Rs 2,000 crore in setting up a 500 MW power plant in Gonda, Uttar Pradesh, sources told NDTV Profit.

Miner NMDC, with a 26 per cent stake, will lead the consortium, while the remaining 74 per cent will be owned by the other two companies.

Coal for the plant will be supplied by two NMDC coal blocks in Chhattisgarh, for which the company has already floated a tender.

Sources said NMDC has already opened an office in Gonda and is in talks with local authorities.