Will be commissioning new plant by 2021-2022: NLC India

The NLC India stock will be in focus as a Power Finance Corporation (PFC), Rural Electrification Corporation (REC) and State Bank of India (SBI) consortium will lend about Rs 11,000 crore to the company's power plant in Uttar Pradesh (UP).

In an interview with CNBC-TV18, SK Acharya, Chairman of NLC India spoke about the latest happenings in his company and sector.

The company has achieved financial closure for its UP power plant two days back and the entire power will be going to UP, he said.

Around 2021-2022, the new plant will be commissioning, he added.

We are 51 percent equity holder and 49 percent is held by UP, so the profit will be shared in the form of dividend by both the partners, said Acharya.

Open to buy stressed assets up to 3,000 megawatt (MW), he further mentioned.

For full interview, watch accompanying video...