Reliance Power's Black Magic
We are witnessing a tremendous influence of India Inc worldwide. Few of them are Tata's acquisition of Corus Steel and Jaguar, Suzlon Energy acquiring Hansen Group and Dr. Reddy's Labs' acquisition of Betapharm to name a few of the big acquisitions.
To add to this growing list Reliance Power (the flagsip of ADAG) has a deal worth 1,000 crores with one of the coal mines in Indonesia. The coal mine is estimated to have a reserve of 2 billion tonnes. Whereas, the largest reserve of coal mines in India which is Gevera in Chattisgarh has a resrve of about 1.2 billion tonnes.
Reliance Power's Krishnapuram power project will be fed by the fuel form this acquisition. The fuel from this project will also be used for other power projects in the country.
Given the amount of money spent in acquisitions and the returns earned from them,
one thing is sure "India Inc is growing and growing fast"
1 comment:
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