NLC Eyes DVC’s West Bengal Project
Neyveli Lignite Corporation (NLC) is in advanced talks to take over debt-ridden Damodar Valley Corporation’s1,200 MW Raghunathpur project in West Bengal.
A deal is likely to be completed by June and will help the state-owned company cut its debt and interest burden, DVC chairman WK Langsti-
eh told reporters in Kolkata on Friday.
“We are sketching out modalities with Neyveli Lignite. The Raghunathpur project will be spun into a separate entity under a special purpose vehicle in which Neyveli Lignite will take 74%, while the rest will remain with DVC,” Langstieh said. — Our Bureau