New Delhi: The government today approved waiving of the Rs 1,000 crore equity investment ceiling by NTPC Ltd in joint ventures or wholly-owned subsidiaries, set up to bid for setting up power projects.

The Cabinet Committee on Economic Affairs today gave its approval for waiving the ceiling for equity investment by NTPC to establish financial joint ventures and wholly-owned subsidiaries in India or abroad for participating in bidding called by state utilities and distribution licensees, an official spokesperson said.

The move would facilitate greater competition and establishment of more public sector power projects. The waiver is, however, subject to the implementation of a maximum of 10 power projects.

Also, the ceiling of 15 per cent of the net worth of NTPC in one project and overall ceiling of 30 per cent in all such projects would remain, he said.
Source : PTI