Billionaire Dilip Shanghvi’s Sun Petrochemicals Pvt. Ltd is planning to enter the power generation business, two company executives aware of the development said.
Sun Petrochemicals through its affiliate Sun Oil and Natural Gas is already into oil and gas exploration and production activities in India. “While exploration and production is doing fine for us, development or generation of power is another segment we think we can have a significant presence in,” a Sun Petrochemicals executive, one of the two people cited above, said on the condition of anonymity.
The company did not respond to an email sent on 6 November. Shanghvi, the controlling shareholder of India’s largest drug maker Sun Pharmaceutical Industries Ltd, through his family and associates owns a 19% stake in Suzlon Energy Ltd, a leading wind turbine maker. Read More
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