Gammon acquires thermal plant venture in western India
15 Jun 2010
Gammon Infrastructure Projects Ltd (GIPL) is entering power generation business in the country through acquisition of an entity, which is setting up a 250 MW coal-based power plant in western India.
Gammon Infra, an infrastructure project development company promoted by Gammon India Limited, said the entity has submitted the requisite bank guarantee to ensure adequate coal linkage for the plant. The power plant developer has also received a letter of allocation for supply of water for its operations, Gammon said in a release.
Gmmon Infra did not reveal the name of the company or the value of the acquisition and merely said further details of the acquisition will be announced in due course.
This marks the foray of the company into thermal power generation. Gammon Infrastructure already has hydro and biomass power projects under various stages of implementation.
Gammon Infrastructure Projects Limited (GIPL) is an infrastructure project development company promoted by Gammon India Limited, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
GIPL is among the first companies in India to be modeled as an infrastructure developer holding company with investments spread across various sectors.
GIPL leads Gammon's forays into PPP projects covering roads and expressways, ports, hydropower, urban infrastructure, airports, special economic zones, water and wastewater management, railways, power transmission lines, and agricultural infrastructure.
