Date:17/03/2007 URL: http://www.thehindubusinessline.com/2007/03/17/stories/2007031700600200.htm

Back Madhucon forays into power sector

Our Bureau

Hyderabad March 16 Madhucon Projects Ltd (MPL), a Hyderabad-based infrastructure company, has announced its entry into the power sector.

It has picked up 48 per cent equity in Simhapuri Energy Pvt Ltd, a special purpose vehicle (SPV) jointly promoted by the Malaxmi Group, also from Hyderabad.

The 540 MW project will be developed in two phases each of 270 MW based primarily on imported coal. The project is being located in close proximity to the Krishnapatnam port in Nellore district.

Madhucon has already entered the energy sector and is in the process of investing in coalmines in Indonesia.

It has also incorporated a wholly owned Indonesian company called PT Madhucon Indonesia for the purpose.