DVC seeks law tweak, may split power business from other activities


The DVC Act stipulates that the company will undertake flood-control, aid irrigation and help supply water for industrial and domestic use.The DVC Act stipulates that the company will undertake flood-control, aid irrigation and help supply water for industrial and domestic use. 

KOLKATA: State-run power producer Damodar Valley Corporation does not have the means to undertake operations it was mandated to carry out, according to its acting chairman Arup Roy Choudhury.

The company is now seeking a change in the DVC Act, and might consider separating its power business from the rest of its activities, which are largely non-remunerative, Roy told ET. The DVC Act stipulates that the company will undertake flood-control, aid irrigation and help supply water for industrial and domestic use. It also requires DVC to promote agriculture and industry in the Damodar valley.

SOURCE: http://economictimes.indiatimes.com/
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