The government has approved a joint venture between NPCIL and NTPC to build four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan.

The Department of Atomic Energy handed over the document approving the joint venture ‘Anushakti Vidyut Nigam Limited (ASHVINI)’“ to top officials of the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation (NTPC) on Tuesday, an official statement said.

With this approval, ASHVINI has been authorized to build, own and operate nuclear power plants in India in accordance with the existing legal framework, the statement from NPCIL said.

It said ASHVINI will be a subsidiary of NPCIL, which will have 51 per cent stake in the entity.

The Mahi Banswara project of 4×700 MW Pressurised Heavy Water Reactors (PHWR) will be implemented by ASHVINI.