Friday, Jan 30, 2015Friday, Jan 30, 2015

Sembcorp invests additional $84m to raise stake in Indian power plant

Published on Jul 14, 2014 6:53 PM

SINGAPORE - Sembcorp Industries (SCI) has raised its shareholding in Thermal Powertech Corporation India from 49 per cent to 65 per cent, with a fresh investment of about Rs 400 crores (S$83.7 million).

With this increase in stake, Thermal Powertech has become a subsidiary of SCI.

The remaining 35 per cent is owned by Gayatri Energy Ventures, a wholly-owned subsidiary of Gayatri Projects.

Thermal Powertech owns and is developing a 1,320-megawatt coal-fired power plant in Krishnapatnam in Andhra Pradesh, India.

If you are not a subscriber, you can get instant, unlimited access here