Bank Nifty

opens new tab, the country's top coal producer, will build a 1,600 megawatt coal-powered plant through a joint venture in the eastern state of Jharkhand at an investment of 165 billion rupees ($1.94 billion) to meet increasing power demand. The state-run company on Monday signed a non-binding memorandum of understanding with state-run power generator Damodar Valley Corporation for setting up the plant, which will have two 800 MW units and will be an expansion of an existing 500 MW plant.