AES LEADS RACE TO BUY ESSAR'S HAZIRA PLANT

Article Abstract:

AES Transpower of USA is likely to acquire Essar's 520 mw power plant at Hazira. Two more foreign companies had also bid for this plant. The Hazira plant has locational advantage as industrial consumers are present and liquefied natural gas terminals are coming up in Gujarat. The Essar group is selling the Hazira power plant as part of its restructuring exercise. Its steel project has not been completed yet and its telecom business is not doing well. The financial institutions have asked the group to sell businesses other than its core ones. (rk) (kvr)

United States, Diversified Companies, Essar Group, AES Transpower Corp.

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ABB IN TALKS WITH SPIC FOR POWER STAKE

Article Abstract:

ABB is negotiating to acquire a 35 percent stake in the Rs2300 crore Tuticorin power project in Tamil Nadu, being promoted by Spic, and replace Raytheon of the US as an equity partner. ABB will have to make an investment of Rs240 crore towards the share capital as the project has a debt-equity ratio of 70:30. ABB will also takeover the engineering, procurement and construction contract for the project from Raytheon, which exited the project due to the sanctions imposed by the US government following India's recent nuclear tests. (khr)

Comment:

ABB is negotiating to acquire a 35 percent stake in the Rs2300 crore Tuticorin power project in Tamil Nadu, being promoted by Spic, and replace Raytheon of the US as an equity partner.

Strategy & planning, Engineering Services, Engineering for Utilities, ABB AB, Utility engineering, Tuticorin

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AES WINS RACE FOR 49% IN OPGC WITH Rs603-CR BID

Article Abstract:

AES Corporation (AESC) of USA is likely to acquire 49 percent stake in the coal-fired power plant of Orissa Power Generation Corporation (OPGC) in Orissa. AESC has offered the highest bidding price of Rs603 crore at 150 percent premium over par value. In 1997, the Orissa government had invited bids from Indian and foreign power utilities for disinvesting 2.4 million shares in OPGC, with a total par value of Rs240 crore. AESC's offer was unconditional and the highest among seven bidders. (gsh)

Comment:

Is likely to acquire 49% stake in coal-fired power plant of Orissa Power Generation in Orissa, India

Facilities & equipment, Fossil Fuel Electric Power Generation, Coal Thermal Electric Power, Coal fired power plants, AES Corp. (Arlington, Virginia), Article, Orissa Power Generation Corp.

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