Govt Considering To Merge All State-run Hydropower Firms
Advertisement
Advertisement
Advertisement
The government is planning to create public sector energy giants with an enomous restructuring exercise that will merge all state-run hydropower firms and transfer their thermal projects to the National Thermal Power Corporation (NTPC) to create strong companies that can take on the rapidly growing private conglomerates.As per the proposal, National Hydroelectric Power Corporation (
The proposal has been welcomed by the executives of big firms but it also has created a flutter among the executives of smaller companies as the merger can lead to redundancies or shift a senior manager in a small firm to a comparatively lower position in the big one. It would also abolish several positions of directors and chief executives.
Power Minister Piyush Goyal first discussed the proposal at a meeting on July 2 with the public sector undertakings and gave SBI Caps the nod to come up with a plan, a senior government official said. The official said NTPC and NHPC welcomed the proposal during the meeting. "SBI Caps has suggested merging the four hydro PSUs into one for increasing efficiency, better management and expertise. The power minister believes that one umbrella company will reduce costs and manage the related challenges in an efficient way," the official said.
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 11 must-visit tourist places in Nainital in 2024
- Indegene's ₹1,842 crore IPO to open on May 6
- BSE shares tank nearly 19% after Sebi directive on regulatory fee
- Nainital bucket list: 9 experiences you can't miss in 2024
- Sanju Samson likely to be India's first-choice wicketkeeper for T20 World Cup
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market