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NTPC, BHEL sign JV agreement

NEW DELHI: Bharat Heavy Electricals Limited (BHEL) and National Thermal Power Corporation (NTPC) on Monday signed an agreement for setting up a joint venture company, on a 50:50 equity participation basis, for carrying out engineering, procurement and construction (EPC) projects in the power sector.

Official sources said the move would help NTPC, the country’s leading power generation firm, to enter into equipment manufacturing space. A memorandum of understanding in this regard was signed between the two companies on September 10.

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