Power Companies March Ahead after Initial Roadblocks

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Bharti Airtel has entered into a contract with American Tower Corporation (ATC) to sell around 1,350 of its towers in Tanzania at about $180 million (around Rs 1,194 crore). As per the agreement, American Tower might take on approximately 100 additional sites which are presently being developed for additional consideration. Airtel is going to be the anchor tenant on the portfolio with a 10-year term lease in the initial term.

The strike which is going to take place on March 29 by state-owned CIL employee unions has been delayed post the meeting between trade unions and Coal India.The four central trade unions (CTUs) of the coal sector were earlier served with a notice to go on a strike on March 29. They were protesting against divestment of the coal PSU along with a range of other issues.

Presently, JSW Energy is in final negotiations with Jindal Steel and Power for purchasing the 1,000 MW power plant in Raigarh district of Chhattisgarh for nearly Rs 5,200 crore. Also, JSW Energy’s generation capacity is 4,531 MW which is going to be  will be increased to 5,531 MW after the acquisition.

Indoco Remedies has obtained approval from the US Food and Drug Administration for its Goa unit. The company has a manufacturing capacity of 2.2 billion tablets, 32 million bottles of liquid orals, 16 million tubes of creams and ointments and 60 million capsules of hard gelatin.

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Tata Power Solar has made it possible for Rajaram Maize Products in becoming a 100 per cent renewable energy company. It has commissioned 4.8 MW solar unit at Rajaram Maize Products factory. The factory is spread over 22 acres at Rajnandgaon district in Chhattisgarh. The project is going to assist in reducing nearly 5,180 tonnes of carbon dioxide (Co2) emissions per year through use of solar energy instead of conventional energy.

Sembcorp-Gayatri venture has laid out plans for doubling the power generation capacity at its thermal power complex based at Krishnpatnam in Nellore district of Andhra Pradesh. It entails an outlay of Rs 12,000 crore. The company is also in the process of completing a 2640 mw thermal power generation complex. The company’s first project of 1,320 mw was executed by Sembcorp and Gayatri nearly 5 months ago. It is working at full capacity and providing power to the Southern States. The second unit implemented by NCC-Gayatri and Sembcorp is going to be commissioned by September 2016.

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