ADAG considering making power equipments
New Delhi, Jan 6 (UNI) Reliance Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani today said the company is evaluating options to venture into the power equipment business.
''We are talking to two-three major companies for a strategic partnership, but we are yet to decide on what type of cooperation agreement it will be,'' Mr Ambani said today.
Mr Ambani said a decision is yet to be reached whether to enter into a contract or joint venture for our plants sourcing of equipments like turbines and boilers.
''There would be some development in the next couple of months,'' Mr Ambani said in a media meet which was called to announce Reliance Power Ltd's initial public offer from January 15 to 18 in a price band of Rs 405-450 a share.
The share sale, aims to mop up Rs 11,500 crore and is the country's biggest IPO. Mr Ambani said the company expects its shares to be listed on the bourses by the first week of February.
Mr Ambani said availability of quality equipment and their timely delivery as a major constraints in power generation. He added that a move to produce power equipments will benefit price competitiveness and timely delivery of equpiments for its plants.
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