New Delhi, Sep 11: The state-owned National Thermal Power Corp (NTPC) Thursday said it has floated a joint venture with the Bihar State Electricity Board (BSEB) for setting up a coal-based power project in that state.

The joint venture entity, Nabinagar Power Generating Co, will set up the 1,980 MW project in Bihar's Aurangabad district, a company statement said.

NTPC will set up the power project and would also look after the operations and maintenance at Nabinagar town in Aurangabad.