NTPC’s board of directors has approved an equity investment of up to Rs 2,269.75 crore in Nabinagar Power Generating Company Pvt Ltd.
The company is a 50:50 joint venture of NTPC and Bihar State Electricity Board. The investment will enable it to implement Nabinagar Super Thermal Power Project (3X660 MW) at Aurangabad district in Bihar.
NTPC has an installed capacity of nearly 40,000 MW. The company had on Monday reported a 22 per cent growth in third quarter net profit at Rs 2,597 crore.
The NTPC stock was trading at Rs 165, up by Rs 3.55 at 9.47 a.m.