Central public sector company Neyveli Lignite Corp Ltd (NLC) has signed a memorandum of understanding with state-owned Uttar Pradesh Rajya Vidhyut Utpadan Nigam Ltd (UPRVUNL) to set up a power project in the state at an estimated investment of Rs 14,858 crore.

A joint venture company between NLC and UPRVUNL will set up the 1,980-Megawatt (3x660 Mw) coal-based super critical thermal power station in Ghatampur, Kanpur Nagar, in five years. The capital investment of Rs 14,858 crore would be shared in the ratio of 51:49 by NLC and UPRVUNL.