NLC Eyes DVC’s West Ben­gal Project

The Economic Times - - Economy -

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

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