Coal India Limited (CIL) has signed a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to set up a 2×800 MW brownfield thermal power project in RRUVNL’s existing Kalisindh thermal power station.
The joint venture company (JVC) will have CIL owning 74 per cent and RRVUNL owning 26 per cent. The JVC will be set up as a private limited company, with an initial paid-up capital of Rs 1 million and an authorised share capital of Rs 100 million, made up of 10 million equity shares priced at Rs 10 each.