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31 August 2009 at 18:25 IST
NTPC gets State nod for Rs 6,000-cr project
Commodity Online The State Government of Andhra Pradesh has announced that the Central Government of India has agreed to set up the project by NTPC-BHEL Power Projects Pvt. Ltd., which is a joint venture between public sector giants like NTPC Ltd. (BOM:532555) and BHEL Ltd. (NSE:BHEL) , at Mannavaram village in Chittoor district.
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NTPC Ltd. is an India-based enterprise engaged in the generation and sale of bulk power to state electricity boards/state utilities.
The project shall provide with direct employment to 6,000 people and indirect employment to around 30,000 workers while paving the way for establishment of 400 ancillary units.
The Andhra Pradesh state cabinet had approved allotting 750 acres for setting up the green-field unit which has been allotted at the rate of Rs.100/acre.
NTPC Ltd. gained 1.19% closing at 212.65 at Bombay Stock Exchange. It touched a 52-week high of 233 and low of 113. BHEL lost 0.89% at National Stock Exchange closing at 2309.5 on Monday.
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