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Alstom, Shanghai Electric plan coal plant JV
22 April 2011: Alstom and the Shanghai Electric Group have signed an agreement to set up a JV company that will supply boilers and spare parts to power plants.
Both the partners have signed a letter of intent for the creation of Alstom—Shanghai Boilers Co, a 50:50 JV company combining both partners’ activity in the boiler market for power plants. The boiler assets held by the Indian subsidiary, Alstom Projects India, will be demerged into a new legal entity that will be held by the joint company, subject to receipt of necessary corporate and regulatory consents. The JV will supply new boilers and spare parts for services. The company would be registered in Shanghai and its operational headquarters will be in Singapore.
Source: Hindu Business Line