Bengaluru-based GMR Group will disinvest 30 per cent in its 10 energy assets to a Malaysian power utility for $300 million (Rs.2,000 crore).
The management committee of GMR Infrastructure Limited (GIL) has recently approved the primary capital investment by Tenaga Nasional Berhad (Tenaga) in GMR Energy Limited (GEL).
The Malaysian power giant would have the right to invest in other assets, including the Chhattisgarh power plant, Indonesian power assets and others at any time within the next five years. The group was awarded Ganeshpur coal block for the 1,370-megawatt (MW) Chhattisgarh power plant in e-auction last year.
Contact: GMR Group
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