March 22, 2006 | Business Standard
Tata Power transfers unit to Tata Projects
Tata Power on Tuesday announced the transfer of its power systems division to Tata Projects, the engineering, procurement and construction company of the Tata group for nearly Rs 80 crore. However, the transfer does not include the Bangladesh project, which comprises a 132-kv Ishurdi-Baghabari transmission line and a 230-kv Ishurdi-Khulna transmission line to evacuate electricity from plants of Power Grid Corporation of Bangladesh to their sub-stations.
The power systems division of Tata Power comprises design, fabrication, supply, construction and commissioning of transmission lines, besides sub-station equipment, cables and power plant equipment. It also includes the entire gamut of the power systems like sub-station equipments, conductors, cables, insulators, hardwares and power plant equipment, it added. Tata Power is into construction of several power projects in a number of countries, which include the UAE, Malaysia, Saudi Arabia, Kuwait and Algeria.
It has also undertaken projects in power plant and utility operations and management in Saudi Arabia, Liberia, Iran, Sierra Leone and Algeria. Recently, Tata Power chalked out an investment plan of Rs 6,200 crore for the next five years. It is planning to raise around $500 million in the international markets to part-finance this programme. The power arm of the Tata group is planning to invest this amount in ongoing as well as new projects. These investments will also be channelised into acquisitions as well as joint venture projects.