NHPC rules out merger with NTPC

NHPC rules out merger with NTPC
PRESS TRUST OF INDIA

NEW DELHI, MAY 5: National Hydroelectric Power Corporation (NHPC) today ruled out its merger with National Thermal Power Corporation (NTPC), saying there was no such proposal with the government. NHPC Chairman and Managing Director Yogendra Prasad toldreporters that the two consultants - SBI Caps and ICICI - appointed by the government to review the entire power sector for restructuring did not suggest any such move.

Asked about the recommendations by the Prime Minister's Council on Industry and Trade for a meger of NHPC with NTPC before the latter could be taken up for disinvestment in units of 1000 mw, Prasad said that he was not aware of it.

"There is no synergy between NTPC and NHPC and theyshould continue doing their respective jobs separately," he said. The council, comprising FICCI President G P Goenka,Rajeeve Chandrasekhar and Nusli Wadia, in its report submitted to Prime Minister Atal Bihari Vajpayee last week had said "... NTPC can be sold off in plant sizes of 1000 or 2000 MW each..... NHPC can be merged with NTPC before this is done."