The Nuclear Power Corporation of India Limited (NPCIL) and National Thermal Power Corporation of India (NTPC) have entered into a joint venture agreement (JVA) to set up nuclear power projects in the country. The agreement was signed by Chairman and Managing Director of NPCIL Mr. S. K. Jain and R. S. Sharma, Chairman and Managing Director, NTPC.

In this agreement both the companies have decided to incorporate to set up nuclear power projects in the country. NPCIL will have 51% equity in the new company while NTPC will have the remaining 49%. The new company formed by NTPC and NPCIL is expected to be operational in next two months.

Minister of State for Power Jairam Ramesh was the intitiator of such venture. This is his brainchild. He has approached both the companies to come forward and work jointly for the nuclear power development in the country.

Mr. Ramesh had an extensive discussion with NPCIL to come up with a viable venture for NTPC's nuclear power projects. And at last the project was through and the country is going to take the nuclear technology advantage of both the firms.