NTPC terminates ₹413 crore contract with GR Infraprojects
after close1 source ↓written by the desknot a recommendation
- contract with G
- ₹413.37 crore
- and initiating
- ₹91 crore
NTPC has terminated its ₹413.37 crore contract with G R Infraprojects for a 400 MWh Battery Energy Storage System at the Mouda Super Thermal Power Station. The decision was made due to contractual and project-progress issues, with NTPC encashing securities worth ₹91 crore and initiating a re-tendering process for project completion.
This move may impact investor sentiment in the power sector as NTPC seeks to expedite project timelines.
Not investment advice. For informational purposes only.