Summary
Multipurpose project Damodar Valley Corporation (DVC), now reeling under losses, would hive off its stake in the Raghunathpur thermal plant in Purulia by forming a JV with state-owned Neyveli Lignite Corporation (NLC). "The talks with NLC are at an advanced stage. SBI Caps will submit its report shortly," DVC chairman Andrew W Langstieh told reporters here today. For the 2X600 MW plant at Raghunathpur, DVC was able to secure PPAs for 550 MW only. NLC, on the other hand, was having PPAs for 650 MW which it secured from a Karnataka power plant which had got delayed. "It is a perfect fit as DVC has the power but no PPAs and vice-versa for NLC. The Karnataka government had also given its no......