NEW DELHI, Aug. 13 (UPI) -- India's National Thermal Power Corp. formed a joint venture with a private firm for assignments in the power sector in the country and overseas.
NTPC formed a new company with Bombay Suburban Electricity Supply, called Utility Powertech Ltd., for assignments to construct and supervise power sector projects.
Separately, Power Minister Sushil Kumar Shinde told Parliament NTPC and Bharat Heavy Electrical Ltd. agreed to enter into a memorandum of understanding for the supply of boiler and turbo generator equipment for the Sasan ultra mega power project.
"However, the price quoted by the BHEL was high. Consequently, NTPC has considered the plant/equipment's cost based on the cost of the similar equipment previously awarded through the process of competitive bidding process for NTPC's projects and the company submitted bids for 660 megawatt units for Sasan on its own," he said.
According to Shinde, NTPC also has a 50-50 joint venture with Reliance Energy. The minister said the new entity, UPL, provided operation and maintenance, renovation and modernization, construction services, distributions work and non-conventional energy services to the industries.
