KARNATAKA LIKELY TO DIVEST 40% STAKE IN KPCL
Article Abstract:
As part of the power reforms initiated in the State, the Karnataka Government is to divest 40 percent of its stake in its wholly-owned power generating company, Karnataka Power Corporation Ltd (KPCL). KPCL has sought the assistance of the consulting firm, Merrill Lynch, in diluting of the equity. The majority of the divested stakes will be offered to the public and financial institutions of India and a minor stake is likely to be offered to a foreign company. The main objective behind the dilution of the stake is to improve KPCL's ability to raise funds for its projects. Now, KPCL has drawn up projects to generate 1,000 mw of electricity. These projects are to be implemented in the next 5 years. (gsh)
Comment:
Karnataka Government will divest 40% of stake in the company as part of power reforms initiated in State
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GLOBAL AUDITING MAJORS IN RACE FOR KPCL CONTRACT
Article Abstract:
Five international auditing firms including Lovelock & Lewes, Batliboi, KPMG and Arthur Anderson & Associates are negotiating with Kondapalli Power Corporation Ltd (KPCL) to be appointed as statutory auditor for its 355 mw power plant being set up at Kondapalli in Andhra Pradesh. The auditor is to be appointed within three weeks. KPCL, promoted by Eastern Generation of the UK and Lanco Construction of Hyderabad, is setting up the combined cycle power plant at a cost of Rs1,200 crore. (khr)
Comment:
Is negotiating w/ Kondapalli Power to be appointed as statutory auditor for 355 mw power plant being set up at Kondapalli, India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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KPCL GENERATES 7532 MU IN FIRST HALF OF CURRENT YEAR
Article Abstract:
Karnataka Power Corporation Ltd (KPCL) has reported a rise in power generation to 7,532 million units (mu) in the first half of 1998-99 compared to 7,250 mu of power generated during same period in 1997-98. Of KPCL's total power generation, hydro generation has contributed 4,680 mu and the balance was from Raichur Thermal Power Station. KPCL has posted a rise in turnover to Rs593 crore during the period (Rs559 crore). (gs)
Comment:
Karnataka Power Corporation Ltd (KPCL) has reported a rise in power generation.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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