Jindal Power and IL&FS Energy Development Company have reportedly individually expressed their interest to be a joint venture partner with NMDC for its proposed 2X250 MW thermal power plant in Uttar Pradesh, which entails investment of approximately Rs 2,000 crore. Further, the two firms have also found to be eligible on technical and financial criteria laid out in the Expression of Interest (EOI).
The company, back in January, invited expression of interest (EoI) from interested parties to appoint a strategic joint venture partner for the power plant, which would mark its foray into the power sector.
As per the EoI, NMDC would put on block a minimum of 49% stake and a maximum of up to 74% in the project to the strategic partner for its successful implementation. However, the extent of equity participation by the partner would be decided up at subsequent stage. Further, the partners would be responsible for arranging coal for the power plant either through purchase, auction or long-term Fuel Supply Agreement (FSA).
