The Caparo Group has formed a JV with Finland based Wartsila to venture into
power generation with a project at an estimated cost of Rs 115 crore.
The JV company plans to set up a 26 MW gas based power plant at Bawal in
Haryana. Currently, work on the plant is underway with completion scheduled for
December 2010.
While the Caparo Group holds 51 per cent stake in the JV, 19 per cent is with
Wartsila. The remaining stake is with all the companies whose energy
requirements are to be met by the plant.
The plant will cater to the captive energy requirements of the group's JV
with Maruti Udyog as also several other Maruti vendors like Mothersons Sumi,
Asahi India, Talbros, Sankei Giken India and Asian Paints located in Haryana.
Also See:
Caparo
setting up socio-cultural centre (20-Feb-10)