Coal India (NSE:COALINDIA, BOM:533278) has entered into a non-binding shareholders agreement with EDF India, a wholly-owned subsidiary of France-based Électricité de France, to form a joint venture, according to a Sunday filing to the Indian stock exchanges.
The joint venture will be established to undertake pump storage projects along with other renewable energy projects in India and neighboring countries.
Shares of the company were down nearly 2% in recent trade.
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