India`s biggest thermal power generator, National Thermal Power Corporation (NTPC) announced on Monday that the board approved investment proposals worth Rs 72.45 billion.
The board has given the investment approval for Mauda thermal power project (2 X 500 MW) in the State of Maharashtra at an appraised estimated cost of Rs 54,592.79 million.
Further the board has given the investment approval to undertake renovation and modernisation works at Kawas gas power station (645 MW) in the state of Gujarat at an estimated cost of Rs 5,974.90 million.
In addition, the board approved the company`s equity investment in Bhartiya Rail Bijlee Company, a subsidiary of the company, upto Rs 11,882.60 million (equivalent to 74% of equity contribution) to enable it to implement 4X250 MW Nabinagar thermal power project in the state of Bihar, subject to prior proportionate equity contribution by railways.
Shares of the company gained Rs 2, or 0.85%, to settle at Rs 238.6. The total volume of shares traded was 2,738,114 at the BSE. (Monday)
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