The country's biggest coal producer, Coal India Limited (CIL), entered into a joint venture agreement with power generator NTPC to get hold of coal assets in the country and overseas.

The new JV is named as "CIL NTPC Urja Private Limited".

CIL and NTPC will contribute equally in the company’s equity share capital.

According to a CIL declaration, “This company has been formed to carry on the business of acquisition, in part or full, of greenfield or operational coal/lignite mine blocks in India and abroad, and development of all kinds of coal/lignite mining for supply of fuels to the company, NTPC and other buyers.”

Yesterday, PSU majors Nuclear Power Corporation of India Ltd and NTPC entered into a JV deal to establish nuclear power projects.

The agreement envisages merger of a company for establishing nuclear power projects in India.

NPCIL will hold a majority of 51%in the new company, while the remaining 49%will be held by NTPC. (With Inputs from Agencies)