Joint Venture29 May 2024, 09:07 pm
SJVN Ltd Approves Joint Venture Agreement with Indian Oil Corporation for Green RTC/Renewable Projects
AI Summary
SJVN Ltd has approved a Joint Venture Agreement with Indian Oil Corporation Limited to form a Joint Venture Company (JVC) for the development of Green RTC/Renewable Projects and other New Technology based Projects. The JVC will be a 50:50 joint venture, with both SJVN and IOCL having equal rights and obligations. The formation of the JVC is subject to the approval of various government bodies. The agreement was approved in a Board of Directors meeting held on July 13, 2023.
Key Highlights
- SJVN Ltd and Indian Oil Corporation Limited to form a Joint Venture Company (JVC)
- JVC to focus on Green RTC/Renewable Projects and New Technology based Projects
- JVC to be a 50:50 joint venture with equal rights and obligations for both parties
- Formation of JVC subject to approval from various government bodies
- Agreement approved in a Board of Directors meeting held on July 13, 2023