IANS
Kolkata, Aug 29: City based power utility CESC Ltd has acquired over 50 percent stake in Dhariwal Infrastructure Private Limited (DIPL) which is setting up a 600 MW thermal power station at Chandrapur in Maharashtra.
In a statement to the Bombay Stock Exchange (BSE), CESC said it had on Thursday entered into an agreement to acquire an interest in DIPL, which has now become its subsidiary.
CESC paid Rs.200 crore (Rs.2 billion) for a little more than 50 per cent stake in the company, Sanjiv Goenka, Vice-Chairman, CESC Limited said.
CESC is due to commission its newest 250 MW power plant at Budge Budge near Kolkata in Sept 2009, taking installed generating capacity to 1,225 MW from the existing 975 MW.