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Our Bureau

New Delhi , July 29

The Cabinet note for setting up a captive power plant for serving Railways in joint venture with National Thermal Power Corporation (NTPC) has been sent to the Finance Ministry, said the Minister of State for Railways, Mr R. Velu, in a written reply to a question in the Lok Sabha on Thursday. The project, termed Bharatiya Rail Bijlee Company, would help Railways get cheaper power for its traction. Its equity will be 51 per cent in the proposed joint venture company.

The Cabinet note in regard to setting up of the proposed plant had been sent to the Ministry of Power on February 20 this year for further processing and for taking approval from the Cabinet Committee on Economic Affairs. The Power Ministry had sent the draft Cabinet note to the Finance Ministry on May 19 for comments. The Railways had proposed setting up of 1,000-MW plant by putting in equity of about Rs 700 crore.

More Stories on : Railways | Power

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