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

18 Dec 2008 Evaluate

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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Tata Power Share Price

442.80 1.45 (0.33%)
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Peers
Company Name CMP
NTPC 398.70
Tata Power 442.80
Adani Power 229.90
Power Grid Corp 319.30
Torrent Power 1733.40
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