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News Brief | December 2012

CESC wins overseas power distribution contract

The power flagship of the Rs 10,000 crore RP Sanjiv Goenka Group, CESC has now taken the first step in power distribution space overseas, bagging a distribution right for  the Port Harcourt in Nigeria, stated Sanjiv Goenka, Vice Chairman, CESC and Chairman of RP Sanjiv Goenka Group, . The distribution rights, which the Kolkata based power utility has bagged through a consortium with five companies including some PE funds and local Nigerian groups, covers an area of 48,000 sq km and an annual turnover of $180 million. This is part of Nigerian government's overall drive to privatise the distribution business by offloading 60 per cent stakes in 11 Discos.
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