GMR arm buys stake in Nepal co
GMR Infrastructure Ltd has informed BSE that GMR Energy Ltd, the company’s wholly owned subsidiary, had entered into a share purchase and joint venture agreement to acquire 80 per cent stake of a Himtal Hydro Power Co. (P) Ltd. having its registered office at Kathmandu. Himtal is implementing a 250-MW Upper Marsyangdi-2 Hydro Power project in Upper Marsyangdi in Nepal. GMR Energy has submitted its application to the Investment Promotion Board, Government of Nepal for the share acquisition. Himtal has already obtained licence from the Department of Electricity Development, Government of Nepal for undertaking the Feasibility Study and Environmental Impact Assessment Study for the project. – Our Bureau
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