Power Utility

Staff Reporter

, Singapore

Published:

13 years ago

GMR Infra to sell 30% stake in Singapore-based Island Power

GMR Infrastructure is expected to sell a 30% stake in its Singapore-based Island Power.

The company acquired 100% ownership in Island Power in 2009 from InterGen, in which it bought 50% stake in 2008.

GMR is currently constructing an 800MW natural-gas-fired plant worth $1bn and raised $820mn to finance the plant in July.

The company is in talks with potential investors for its stake in the power arm, reports the Financial Express.

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