Faridabad: NHPC Limited has signed a memorandum of understanding (MoU) with Cement Corporation of India Limited (CCI) for exploring possibilities for cement requirement for 2,880 MW Dibang Multipurpose Project on Tuesday.
The MoU has been signed by NHPC Limited's Chairman & Managing Director (CMD) AK Singh and CCI Limited's Chairman & Managing Director (CMD) BVN Prasad at NHPC Corporate Office, Faridabad. On the occasion, CCI Limited's Director (Finance) S Sakthimani, NHPC Limited's Director (SBD&C) VK Maini and other senior officers of both the organisations were also present on the occasion.
The MoU will pave the way for addressing the cement requirement for Dibang Multipurpose Project. Consequent upon confirmation of studies, CCI has proposed to install a clinker grinding unit near the project area, which besides fulfilling the cement requirement of Dibang Multipurpose Project, will also generate employment opportunities in the area subject to finalization of modalities subsequently, NHPC said in a statement.
NHPC Limited, formerly known as National Hydroelectric Power Corporation Limited, was incorporated on November 7, 1975, as a Central government enterprise for the development of hydropower. It is a Miniratna PSU under the administrative control of the Ministry of Power.
Cement Corporation of India Limited (CCI) was incorporated as a company wholly owned by the government on January 18, 1965, with the principal objective of achieving self-sufficiency in cement production. The authorised and paid-up capital of the company is Rs 900 crore and Rs 811.41 crore, respectively.