Coal India forms JV with RRVUNL for thermal power project
COAL & MINING

Coal India forms JV with RRVUNL for thermal power project

Coal India has announced a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to develop a brownfield thermal power project in Rajasthan. The new joint venture company will be established as a private limited entity, with an authorized share capital of Rs 10 crore, comprising 1 crore equity shares at Rs 10 each.

The primary goal of this agreement is to create a 2x800 MW thermal power project at RRVUNL's existing Kalisindh thermal power station. The joint venture will also explore additional thermal power initiatives and renewable energy projects in the region.

Under the agreement, the shareholding structure will consist of 74% for Coal India and 26% for RRVUNL. Both companies will have the authority to nominate directors to the joint venture, with Coal India designating four executives and RRVUNL designating two.

Coal India is a leading coal mining company focused on the production and sale of coal. As of June 30, 2024, the Government of India holds a 63.13% stake in the company.

In its latest financial report, Coal India recorded a 4.1% increase in consolidated net profit, reaching Rs 10,959.47 crore in Q1 FY25, compared to Rs 10,528.03 crore in Q1 FY24. Revenue from operations also rose by 1.59%, amounting to Rs 36,464.61 crore in the first quarter of FY25, up from Rs 35,893.21 crore during the same period last year.

Coal India has announced a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to develop a brownfield thermal power project in Rajasthan. The new joint venture company will be established as a private limited entity, with an authorized share capital of Rs 10 crore, comprising 1 crore equity shares at Rs 10 each. The primary goal of this agreement is to create a 2x800 MW thermal power project at RRVUNL's existing Kalisindh thermal power station. The joint venture will also explore additional thermal power initiatives and renewable energy projects in the region. Under the agreement, the shareholding structure will consist of 74% for Coal India and 26% for RRVUNL. Both companies will have the authority to nominate directors to the joint venture, with Coal India designating four executives and RRVUNL designating two. Coal India is a leading coal mining company focused on the production and sale of coal. As of June 30, 2024, the Government of India holds a 63.13% stake in the company. In its latest financial report, Coal India recorded a 4.1% increase in consolidated net profit, reaching Rs 10,959.47 crore in Q1 FY25, compared to Rs 10,528.03 crore in Q1 FY24. Revenue from operations also rose by 1.59%, amounting to Rs 36,464.61 crore in the first quarter of FY25, up from Rs 35,893.21 crore during the same period last year.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement