NLC India, Rajasthan Utility Form JV To Develop Lignite Mines, Power Station

NLC India and Rajasthan Rajya Vidyut Utpadan Nigam Ltd. have formed a joint venture company named NLC Rajasthan Power Ltd. to develop, operate, and maintain lignite mines and a lignite-based thermal power station, NLC India said in an exchange filing on Tuesday.

NLC India will hold a 74% stake in the joint venture, while Rajasthan Rajya Vidyut Utpadan Nigam will hold the remaining 26%. The joint venture company was incorporated following approval from the Ministry of Corporate Affairs on Monday.