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.
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