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NTECL pays interim dividend of Rs 47.56 crore to NTPC for FY 2020-21

NTPC Tamil Nadu Energy Company Limited (NTECL) has paid an interim dividend of 47.56 crore to NTPC Limited, for the first time since its incorporation in 2003

NTECL pays interim dividend of Rs 47.56 crore to NTPC for FY 2020-21
NTECL pays interim dividend of Rs 47.56 crore to NTPC for FY 2020-21

New Delhi: NTPC Tamil Nadu Energy Company Limited (NTECL), a joint venture company of NTPC Limited and Tamil Nadu Generation and Distribution Corporation (TANGEDCO) has paid an interim dividend of Rs 47,55,59,335/- for the Financial Year 2020-21 towards NTPC’s 50 percent share.

NTECL has paid the dividend for the first time since its inception in 2003. The Interim dividend is also been paid to other Joint Venture partners viz. TANGEDCO on its shareholding of 50 percent in NTECL.

NTECL’s Chairman and Director (Operations) of NTPC Limited Ramesh Babu V presented the cheque to NTPC Limited’s Chairman & Managing Director (CMD) Gurdeep Singh.

NTPC’s Director (Finance) AK Gautam, NTPC’s Director (HR) Dillip Kumar Patel, NTPC’s Regional Executive Director (South) & NTECL’s Director CV Anand, NTECL’s Chief Executive Officer (CEO) Basuraj Goswami, NTECL’s Chief Financial Officer (CFO) Rajiv Srivastava, NTPC’s Company Secretary Nandni Sarkar and NTECL’s Company Secretary Amit Garg were also present on the occasion.

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NTPC Tamil Nadu Energy Company Limited (NTECL)

NTECL is a joint venture company between NTPC and TANGEDCO. The main objective behind the birth of NTECL was to undertake various activities related to the identification of a suitable and techno – commercially feasible site at Ennore (Tamilnadu) and develop the 1,000 MW coal-based Thermal Power Project at the identified site on Build, Own and Operate (BOO) basis. It was later decided to add another 500 MW unit within the same complex. Presently all three Units of Vallur Thermal Power Station (3 X 500 MW) are in commercial operations. The last unit (Unit no. 3) was declared as commercial on February 26, 2015.

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