Hyderabad : Sembcorp Industries (Sembcorp), a Singapore-based energy, water and marine group, signed a conditional agreement to acquire 45% stake in NCC Power Projects, which is currently building a 1,320-megawatt coal-fired power plant in Andhra Pradesh for Rs 848 crores.

The project is likely to come on-stream in early 2016.

NCCPP is jointly owned by Gayatri Energy Ventures (GEVPL) and NCC Infrastructure Holdings (NCCIHL), a subsidiary of Indian conglomerate, NCC Limited (NCCL).

The project will be fuelled by both domestic and imported coal.It has already received a Letter of Allocation for its domestic coal supply from Coal India.

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