NTPC signs pact with Jharkhand government for 4,000 MW Patratu power plant

State owned National Thermal Power Corporation (NTPC) Limited has signed a pact with Jharkhand government to setup a 4,000 MW Patratu power plant in the state.
As per the pact, NTPC and Jharkhand Bidyut Vitaran Nigam Limited will establish a Joint Venture (JV) company for the project as well as for reviving the Patratu Thermal Power Station (PTPS).
In this JV Company NTPC will have 74 per cent stake. The state government will be a partner in this project and will not invest any additional capital in it.
The JV Company will build an efficient super critical project of 4,000 MW in two phases. This project on completion will provide cheap and affordable 24X7 power supply to every household and adequate power for farmers in Jharkhand.
It will also play an important role in improving the performance of existing station in the state from 15 per cent plant load factor (PLF) to 82 per cent.
The power plant will also enable rapid industrialization in the state which in turn will provide massive employment to youth in the state.

Month: Current Affairs - May, 2015