The Hindu Business Line : NTPC gets shareholders nod for nuclear foray

New Delhi May 15 State-owned NTPC Ltd on Tuesday said it has bagged shareholder approval for amending existing clauses in the company's Memorandum of Association for going ahead with its proposed nuclear foray.

The power major informed the BSE that its members, by way of postal ballot, have passed a Special Resolution for amending existing Clause 1 and Clause 4 (a) of the company's Memorandum of Association to enable it to take up nuclear power generation activities.

NTPC plans to enter into a joint venture to set up a 2,000-MW power plant during the Twelfth Five-Year Plan period. The Government, as the principal shareholder, has already given its assent to the company for amending the respective clauses of its Memorandum of Association to take up nuclear power projects.

The proposed nuclear project would be funded in a debt-equity ratio of 70:30, Government officials said.

Corporate plan

"NTPC's corporate plan for 2002-17 envisages taking up 2,000 MW of nuclear capacity in joint venture during the Twelfth Plan," officials said. Currently, the company was in the process of selecting optimal technology options and identify potential sites for its first nuclear project, they said.

NTPC would engage technical consultants to look into all aspects of the nuclear foray, including training of manpower with respect to design, operation and developing necessary competence to set up other nuclear plants.

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