Reliance Energy, Tata Power eye Dishergarh Power Supply Corp

August 14th, 2008 - 10:03 pm ICT by IANS  

Kolkata, Aug 14 (IANS) Reliance Energy Ltd, CESC Ltd and Tata Power Ltd have expressed interest in buying 57 percent stake in Dishergarh Power Supply Corp (DPSC), said a top official of Andrew Yule Co Ltd (AYC), which has a stake in DPSC. “Reliance Energy, CESC, Tata Power and other leading power companies have responded to the expression of interest (EoI) floated by AYC for divesting its stake in DPSC,” AYC chairman and managing director Kallol Datta told reporters here Thursday.

AYC along with two coal companies controls 15 percent in DPSC while the Life Insurance Corp (LIC) has 42 percent stake. LIC is also planning to sell its stake in DPSC.

The last date for submitting EoIs is Sep 9.

DPSC is engaged in generation, transmission and distribution of electricity in the Asansol-Ranigunj belt in West Bengal. It has an existing generation capacity of about 40 MW.

AYC is selling its stake in DPSC along with few other group companies as part of its restructuring and revival policy.

It has also planned to float fresh tender for lubricants maker Tide Water Oil, by cancelling the earlier one. Tide Water Oil owns the automobile lubricant Veedol.

AYC also plans to divest its stake in Phoenix Yule, which is a joint venture company between AYC (26 percent) and Phoenix (74 percent) of Germany.

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