GMR energy to acquire 80% stake in Nepal's Himtal Power

New Delhi, Nov 27 (UNI) GMR Energy Ltd, a wholly-owned arm of GMR Infrastructure, today said it has entered into a share purchase and joint venture agreement to acquire 80 per cent stake of Nepal-based Himtal Hydro Power Company (P) Ltd.

The company also said the necessary application has been submitted to the Investment Promotion Board, Department of Industries of Government of Nepal, seeking their approval for the same, a statement said.

With its registered office at Kathmandu, Himtal has subsisting survey licence issued by the Department of Electricity Development, Government of Nepal, for undertaking the feasibility study and environmental impact assessment study for setting up a 250 MW Upper Marsyangdi Hydro Power Project, located at Upper Marsyangdi in Nepal.

UNI