merisarkar news service
New Delhi, November 16, 2010
NTPC CMD recived the certificate
Govt. of India has formally handed over the certificate of Maharatna PSU to state owned thermal power company NTPC on Tuesday. Arup Roy Choudhury, Chairman & Managing Director, NTPC received the certificate of the coveted Maharatna Status for NTPC bestowed by Government of India on select four PSUs from Vilasrao Deshmukh, Union Minister of Heavy Industries & Public Enterprises.
NTPC is the first PSU in Power Sector to receive this honour. The certificates were conferred at the conference Resurgent PSUs- Vibrant India held in New Delhi.
Consequent upon grant of Maharatna status, the Board of Directors of NTPC are empowered to make equity investment to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15% of the net worth, limited to Rs.5000 crore in one project as against earlier limit of Rs.1000 crore.
NTPC, the largest power generating company of the country, presently has an installed capacity of over 32000 MW. NTPC presently operates 28 power stations across the country. Currently NTPC has over 16,000 MW capacity under construction and plans to become a 75 GW by 2017.
