Indian Oil to pick up 26% stake in NPCIL project

Indian Oil Corporation will invest about Rs 900 crore to pick up 26 per cent stake in Nuclear Power Corporation’s 1,400-MW atomic power project at Kota in Rajasthan, which is scheduled for completion by 2015-16. The joint venture agreement would be signed in a month.

IOC would hold 26 per cent equity in the project, which is proposed to be financed by both the partners in the debt equity ratio of 70:30.