According to a Press Trust of India report, the company will invest approximately INR200bn ($3.3bn) for the project, which will be completed before March 2019.
Upon completion, the project will become the largest single-location power project in Andhra Pradesh.
The land has been allotted to the company upon request by the PSU for developing a coal-based 5x800MW (4,000MW) Super Thermal Power Station at Vishakhapatnam.
The government order reads: "The government, after careful examination of the matter, hereby directs the APIIC to allot and hand over 1,200 acres of contiguous land in APSEZ (denotified area), Pudimadaka village of Atchuthapuram Mandal, Visakhapatnam district to NTPC on long lease basis of 33 years for setting up a coal-based 5×800 MW (4,000 MW) Super Thermal Power Station.
"If the project is running successfully at the end of the lease period, it can be extended further on mutual terms. The lease conditions as well as rental will be as fixed by APIIC as per their policy."
Andhra Pradesh Industrial Infrastructure (APIIC) will take carry out furthers steps for the project.
The land, which is suitable for the new project, is lcoated close to NTPC’s existing Simhadri power project.
Image: NTPC owns 17 coal based power stations in India. Photo courtesy of John Kasawa/Freedigotalphotos.net
