Chi­nese firms seek to buy In­dian power, EPC as­sets

Hindustan Times ST (Jaipur) - - World - Ut­pal Bhaskar ut­pal.b@livemint.com

At­tracted by In­dia’s in­fra­struc­ture de­vel­op­ment pro­gramme, state-run Chi­nese firms, in­clud­ing China Har­bour En­gi­neer­ing Co. Ltd and China Datang Corp (CDC), are look­ing to buy stakes in In­dian com­pa­nies in the en­gi­neer­ing, pro­cure­ment, con­struc­tion (EPC) and power gen­er­a­tion space, re­spec­tively to drive their busi­ness, two peo­ple aware of the Chi­nese firms’ in­ter­est said.

While CDC, one of China’s largest power gen­er­a­tion util­ity, has been at­tracted by In­dia’s stressed power projects, another govern­ment-owned firm, China South­ern Power Grid, plans to bid for power trans­mis­sion projects, said one of the two peo­ple cited above.

In­dia’s plan to in­vest ₹3.96 lakh crore in the cur­rent fi­nan­cial year to fund its new in­te­grated in­fra­struc­ture plans com­pris­ing roads, rail­ways, wa­ter­ways and civil avi­a­tion is at­tract­ing in­ter­est from foreign firms, in­clud­ing Chi­nese com­pa­nies.

Lo­cal com­pa­nies have, how­ever, been rais­ing con­cerns about the par­tic­i­pa­tion of Chi­nese firms in In­dia’s in­fra­struc­ture projects given their strate­gic im­por­tance. There have been in­stances in the past when In­dia stopped giv­ing clear­ances to tele­com equip­ment im­ported from China over se­cu­rity con­cerns.

“China Har­bour En­gi­neer­ing is look­ing for ac­qui­si­tion in the

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.