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Posts Tagged ‘GVK Power & Infrastructure’

Trying to con GIC?

In Energy, GIC on 22/06/2012 at 2:53 pm

On 5 June 2012, Australia said it would delay environmental approval for a A$10 billion (US$9.72 billion) coal project proposed by India’s GVK Power & Infrastructure, a potential setback in the company’s bid to take advantage of India’s need for coal.

Well it was reported on 19 June that GVK Power and Infrastructure is seeking to raise US$500 million to US$600 million by selling a stake in its Singapore arm and is in talks with Government of Singapore Investment Corp for a potential deal, two sources with direct knowledge of the matter said.

The Indian developer of airports, power projects, roads and mines will sell a minority stake in GVK Coal Developers (Singapore) Pte Ltd, the sources said, adding that a deal may be a precursor to a Singapore listing of the unit that holds coal assets in said Australia.

http://www.reuters.com/article/2012/06/19/india-gvk-idUSL3E8HJ1UP20120619

Tricky buggers these Indians.

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