D S Constructions aquires Globeleq America's power assets

Mumbai, June 19 (UNI) D S Constructions Ltd, a infrastructure development and engineering construction company, today announced that it has acquired Globeleq America's power assets for US 542 million dollars, in a joint venture with Israel Corporation.

With the conclusion of the deal, Globeleq Ltd's America assets consisting of Natural Gas and Hydro Power Plants in Peru and Bolivia, fuel-based power assets in El Salvador, Dominican Republic, Guatemala, Nicaragua, Panama and Jamaica totaling a capacity of over 2180 mega watts have been transferred to the JV partners, the company said in a statement here today.

D S Constructions managing director M S Narula said ''With our acquisition of power assets in South America, we have emerged as a global power entity with a capacity of over 3400 MW. We have already been awarded 1260 MW power projects in India and with this acquisition, we are moving closer to our goal of becoming a 10,000 MW company by 2015.'' ''The acquisition has been funded through the internal resources.

The assets have a total capacity of over 2,180 MW and are engaged in the production and sale of electricity. Some of the power plants that have been acquired as a part of this transaction are hydroelectric and gas based as well,'' he added.

UNI