NHPC - Govt. Approvals To Expedite Project Works: ICICI Securities
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ICICI Securities Report
NHPC Ltd. has recently received approval for two projects – Jal Power Corporation Rangit stage-IV and Ratle.
The company is likely to expedite the tendering process and start construction activities in the near term.
NHPC received the approval from Ministry of Power for an investment of Rs 9.4 billion for acquisition and construction of balance work for 120 megawatt Rangit stage-IV project.
It also received the board approval for the formation of a joint venture for 850 megawatt Ratle in Jammu and Kashmir at an equity investment of Rs 510 million (51% stake).
Once construction activities start, we expect both the projects to commission in five to seven years.
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