Reliance Energy has reportedly expressed interest
in taking up equity stake in the five state-owned power distribution companies
of Uttar Pradesh. This decision was taken up at the Reliance Energy board
meeting held on 1 December 2004.
The five distribution companies are based in
Meerut, Agra, Lucknow, Varanasi and Kanpur. They cater to 8.5 million urban
consumers and distribution a peak demand of 6,500 MW. The aggregate revenue of
these companies is around Rs.7,500 crore.
It may be recalled that on 1 November 2004, the
UP government had invited expressions of interest from private sector companies
to take up majority stake in these five distribution companies. (See Related
News)
Related News:
Uttar
Pradesh government to privatize power distribution companies (1-Nov-04)