Coal India has signed a Joint Venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) for Renewable Energy Business in Rajasthan. The Joint Venture Company (JVC) shall be incorporated as a ‘Private Limited’ Company. Initial paid-up share capital of JVC shall be Rs 10,00,000.
Coal India will have a 74% shareholding in the joint venture while RRVUNL will have the remaining 26%. The company and RRVUNL each shall have the right to nominate Four and Two executives as Directors of JVC respectively.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
