GVK Power and infrastructure Limited (GVKPIL) has stated that equity requirements needed for the company's upcoming projects have already been met for this financial year.
In a press release here on Tuesday, GVKPIL stated that Rs 105.85 crore had been infused as equity into the Rs 850 crore multi-product special economic zone (SEZ) in Tamil Nadu.
Similarly, Rs 142.89 crore and Rs.295.70 crore have been infused as equity into Alaknanda Hydro Project in Uttarakhand and Goindwal Sahib thermal project in Punjab respectively.
Financial closure is also being contemplated for the 540 Mw Goindwal Sahib project and also for GVK Infratech Private Limited's 3,207 acre SEZ.
GVKPIL, however, said that as part of the company’s strategy to build a war chest for its expansion plans, a divestment of the sub-holding company GVK Energy Limited was being contemplated. "Discussions are on with private equity entities and a decision will be taken at an appropriate time," it added
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