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Sembcorp to acquire majority stake in NCC’s JV Company: Report

11 Oct 2013 Evaluate

Sembcorp, a Singapore-based global utility services company is reportedly planning to acquire majority stake in NCC Power Projects for roughly Rs 500 crore. In this regard, the preliminary agreement has been signed by both the entities.

The deal, signed nearly at par of the investments made so far, signals foreign strategic investors' renewed interest in Indian power companies with all regulatory clearances.

NCC Power Projects, a joint venture (JV) between Hyderabad-based infrastructure firms NCC and Gayatri Projects, is involved in the development of 1320 MW Coal Based Thermal Power Project in Muthukur Mandal,Nellore District of Andhra Pradesh.

Peers
Company Name CMP
Larsen & Toubro 3665.45
Kalpataru Projects 1355.40
NCC 127.90
Rail Vikas Nigam 196.80
KEC International 346.95
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