Tata Power to hold 74% stake in a JV Power company with Indian Oil Corporation

18 Dec 2008

Tata Power Company has signed a Joint Venture agreement with Indian Oil Corporation (IOCL) to set up a coal based power plant in Orissa.  This plant will meet the power requirements of IOCL in its refinery, petrochemicals complex and its affiliates. 

 

Tata Power will hold 74% stake while the balance 26% stake will be held by IOCL.  However, the JV will start operating only after the IOCL board approves the investment in the refinery cum petrochemical project at Paradip.

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