Damodar Valley Corp Scraps Plan To Sell Plant To NLC India Joint Venture

Damodar Valley Corp Scraps Plan To Sell Plant To NLC India Joint Venture

A bitter political spat involving the Centre and the states of West Bengal and Jharkhand has forced power utility Damodar Valley Corp. (DVC) to abandon its plan to sell a 1,200-megawatt (mw) plant to a proposed joint venture with NLC India Ltd (formerly Neyveli Lignite Corp.), putting at risk Rs21,000 crore of long-term loans that it is struggling to repay.