NTPC to shell out ₹15,000 crore to buy out NEEPCO, THDCIL from Centre
NTPC will be forking out close to ₹15,000 crore this fiscal to buy out the Centre’s stake in North Eastern Electric Power Corporation Ltd (NEEPCO) and THDC India Ltd (THDCIL).
According to company officials in the know, NTPC is planning to complete the buyout by the end of FY20 in a bid to aid the Centre that is struggling to meet its disinvestment targets. So far this fiscal, the Centre has mobilised ₹17,364.26 crore through disinvestments. It has a target to garner ₹1,05,000 crore through disinvestment proceeds before the end of the current fiscal.
According to the annual report of these companies for FY19, the net worth of NEEPCO was ₹6,301.29 crore and that of THDCIL was ₹9,280.78 crore as on March 31, 2019.
