NTPC to be geared up

State-run power producer NTPC to set up a 1,320 megawatt power plant in northern India through an equal joint venture with a local utility. it had signed a memorandum of agreement with Uttar Pradesh Rajya Vidyut Nigam Ltd to implement the project. its board had approved investment proposals worth 72.4 billion rupees, including for a new power project.

It will spend 54.59 billion rupees to build a 1,000 megawatts (MW) power plant in Maharashtra, The company said it would invest up to 11.88 billion rupees in a subsidiary, to help build a 1,000 MW plant in Bihar.

NTPC would also spend 5.94 billion rupees to upgrade its existing power plant in Gujarat, also in western India.

It looks more promissable from these levels to give a good returns.