CIL join hands with NLC India to set up joint venture for power generation

Coal India Monday said it has entered into a pact with NLC India Ltd (NLCIL) to set up a joint venture for power generation.

"Coal India Ltd (CIL) and NLCIL have signed a memorandum of understanding (MoU) for the formation of a joint venture for solar power generation of 3,000 MW and thermal power projects of 2,000 MW capacity," CIL said in a filing to BSE.

The PSU accounts for over 80 per cent of domestic coal output.

CIL Chairman A K Jha had earlier said the company is optimistic about an aspirational production target of 652 million tonnes for 2018-19.