SAIL receives INR 145 million dividend from its JV with NTPC

Thursday, 26 August 2010 16:14:05 (GMT+2)

Indian steelmaker Steel Authority of India Limited (SAIL) received on August 25 a cheque for INR 145 million (US$3.1 million) as its share of dividend for the 2009-10 financial year from NTPC-SAIL Power Company Ltd (NSPCL), the equal share joint venture (JV) in power between SAIL and NTPC.

Mr. R.N. Sen, chief executive officer, NSPCL, presented the cheque to SAIL chairman Mr. C.S. Verma in the presence of SAIL director (technical) Mr. V.K. Gulhati, SAIL director (commercial) Mr. Shoeb Ahmed and other senior executives of the JV partners.

NSPCL, which manages captive power plants of SAIL at Rourkela, Durgapur and Bhilai with a combined capacity of 814 MW has been paying dividends since its inception in 2001-02.

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