The ministry is likely to circulate a cabinet note within a week for comments from other ministries and the planning commission on the move to sell the entire government equity in NHPC to NTPC for Rs 4,500 crore, government sources said.

Sources said the proposal was being expedited to ensure that the promised Rs 2,500 crore from NTPC during the current fiscal as part payment was transferred to the consolidated fund of the government by February.

When contacted, NTPC chairman and managing director Rajendra Singh said: "I have communicated to the government that it will take about 45 days for the corporation to pay Rs 2,500 crore against the confirmed order for buying government equity in NHPC."

Sources said that power minister P R Kumaramangalam had already got the consent of the finance minister before he surprised the power utilities by announcing the deal in Mumbai last week, evoking sharp reactions from Congress, Left parties and trade unions. When completed, NHPC would be the biggest takeover in the Indian corporate history.

Meanwhile, in Kumaramangalam said in the energy sector, the government is planning to take various measures to strengthen Indo-US relationship including working out options for energy ventures and research besides cooperation in environment and other related sectors.

Favouring the view that India should create a $ 100 million fund for science and technology with US, he said this could help the two countries in carrying out co-research and development in the areas.