Sembcorp Industries says wholly-owned subsidiary, Sembcorp Utilities, has incorporated a subsidiary, Sembcorp Utilities India Private Limited, in India.
Sembcorp Utilities will take a 100% stake in Sembcorp Utilities India, the provider of management and advisory services for Sembcorp’s existing investment in the power sector in India.
Sembcorp currently owns a 49% stake in Thermal Powertech Corporation India, a joint venture with Gayatri Energy Ventures to build, own and operate a 1,320 megawatt coal-fired power plant in Krishnapatnam, Nellore District in Andhra Pradesh.
The issued share capital of Sembcorp Utilities India is Rs500,000 ($13,500) divided into 50,000 shares of Rs10 each.
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