Gayatri Projects is likely to divest 49 per cent stake in its 1,320 MW power
project at Krishnapatnam in Andhra Pradesh to a strategic partner in next two
months.
The company is aiming to tie up the debt component for the project by
end-March 2010 while the equity component is around Rs 1,600 crore.
Gayatri Energy Ventures, a subsidiary of Gayatri Projects, is setting up the
plant under a wholly-owned SPV called Thermal Powertech Corporation of India.
The company has received environmental nod, and has tied up coal for the
project. It is in possession of 1,400 acre for the purpose of setting up the
plant.
Also See:
Gayatri Energy to raise debt for Krishnapatnam project soon (13-Mar-10)
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