New Delhi: State-run power giant NTPC Limited on Friday announced the merger of its wholly-owned arms Nabinagar Power Generating Company Ltd and Kanti Bijlee Utpadan Nigam Ltd with itself. In 2018, the two firms had become wholly-owned subsidiaries of NTPC. It had acquired the equity stake of Bihar State Power Generation Company Ltd in the two firms.
"The amalgamation of Nabinagar Power Generating Company Ltd and Kanti Bijlee Utpadan Nigam Ltd with NTPC Ltd stands completed," it said in a BSE filing.
NTPC had acquired 50 percent equity stake in Nabinagar Power Generating Company and 27.36 per cent stake in Kanti Bijlee Utpadan Nigam on June 29, 2018.
The Nabinagar Power Generating Company (Pvt) Ltd was incorporated as a 50:50 joint venture company of NTPC and Bihar State Power Generation Company Ltd. The company operates the 1,980 MW Nabinagar Super Thermal Power Project in Aurangabad district of Bihar.
Kanti Bijlee Utpadan Nigam owns and operates Muzaffarpur Thermal Power Station (MTPS) situated at Kanti, district Muzaffarpur, Bihar.
(With PTI inputs)
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