Indian state-owned utility NTPC has formed a joint venture (JV) with Coal India (CIL) to acquire coal assets in the country and abroad.

The companies will contribute equally in the equity share capital of the JV, which will be known as CIL NTPC Urja.

The JV has been formed to carry on the business of acquisition in part or full, of green field or operational coal/lignite mine blocks and development of all kinds of coal/lignite mining for supply of fuels to the JV, NTPC and other buyers, the companies said.

This week, NTPC has also signed a joint venture agreement with Nuclear Power Corporation of India (NPCIL) for formation of a public limited company to set up nuclear power project with two nuclear reactor units, which may be extended for setting-up additional nuclear power projects subject to techno-economic viability.

The proposed joint venture company will be a subsidiary of NPCIL in which NPCIL will hold 51% equity and the balance 49% will be held by NTPC.