Jaiprakash Associates Private Ltd. (JAPL), established in 1979, is a major player in the engineering and construction arena. Its various divisions include cement, hydropower, thermal power, hospitality, real estate and expressways. JAPL's subsidiaries include Jaypee Hotels Limited (JHL), Jaiprakash Hydro-Power Limited (JHPL), Jaiprakash Power Ventures Limited (JPVL), Jaypee Karcham Hydro Corporation Limited (JKHCL) and Jaypee Cement Limited (JCL).