Coal India Limited and RRVUNL have entered into a Joint Venture Agreement to establish a 2×800 MW Brownfield Thermal Power Project at RRVUNL’s existing Kalisindh Thermal Power Station, while also exploring additional thermal power projects, including renewable energy initiatives.
The shareholding structure will consist of CIL holding 74% and RRVUNL holding 26% in the joint venture. The Joint Venture Company will be incorporated as a Private Limited Company with an initial paid-up capital of INR 10,00,000 (Ten Lakh) and an authorized capital of INR 10,00,00,000 (Ten Crores), comprising 1,00,00,000 equity shares at Rs. 10 each.
Its registered office will be located in Jaipur, Rajasthan. CIL will have the right to nominate four directors, while RRVUNL will nominate two. Importantly, both parties are independent public sector enterprises with no promoter-related affiliations. Shares will be issued in accordance with the agreed equity ratio following incorporation, and there are no identified conflicts of interest arising from this agreement.