Essar Power and Inter RAO- Export LLC, an export arm of Russian state-controlled energy company, signed a Memorandum of Understanding and strategic cooperation in the power sector in St Petersburg, Russia, on the sidelines of St. Petersburg International Economic Forum that took place last week.
Maxim Sergeev, Director General of INter RAO – Export LLC and Ravi Ruia, Co-Founder of Essar, have signed the document, Essar Power said in the statement.
“The objective of the document is to integrate the capacities of both companies for operations in the power market of India,” it added.
The companies will explore opportunities for joint investments in the existing coal based power assets including associated coal mines and in brown field expansion of the existing coal based power power assets in India, the sources aware of the companies’ plans said. Read More
Latest posts by The Hindu Businessline (see all)
- Oil marketers fall as prices gain on fourth day - May 17, 2019
- Railways’ move to be a clean, green transporter - May 17, 2019
- Engineers India Limited to consult in setting up Mongolian oil refinery - May 15, 2019