Coal India, Damodar Valley Corp incorporate JV to operate in energy sector
This story was originally published at 20:00 IST on 27 March 2026
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NEW DELHI – Coal India Ltd. and Damodar Valley Corp. Ltd. have incorporated a 50:50 joint venture company called DVC CIL Power Pvt. Ltd. Both will subscribe to 50,000 equity shares of INR 10 each as initial capital, Coal India said in a notice to the exchanges Friday.
The joint venture will operate in the energy sector with a focus on power generation, transmission, and distribution, including thermal, hydro, and renewable projects. The venture will also undertake allied activities such as development of e-mobility infrastructure, water treatment, and commercial utilisation of by-products like fly mobility and related materials. The project will be funded through a mix of 30% equity and 70?bt, with an equity infusion of INR 31.33 billion. The Department of Investment and Public Asset Management and the Ministry of Coal have approved the joint venture.
For the quarter ended December, Coal India reported a consolidated net profit of INR 71.57 billion on revenue of INR 349.24 billion. On Friday, shares of the company closed up 0.3% at INR 445.05 on the National Stock Exchange. End
Reported by Gunjan Rajput
Edited by Ashish Shirke
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