GMR Energy picks up 80 pc stake in Himtal

{image-gmr energy1_08012008.jpg news.oneindia.in}
Mumbai, Jan 8: GMR Energy Ltd. the 100 per cent subsidiary of GMR Infrastructure has acquired 80 per cent stake in Himtal Hydro Power Co. Pvt. Ltd. of Nepal.

Himtal has subsisting survey licence issued by the Department of Electricity Development, Govt. of Nepal for undertaking the feasibility study and environmental impact assessment study for setting up a 250 MW Upper Marsyangdi-2, Hydro Power Project, at Upper Marsyangdi, Nepal. Further, the company has obtained the necessary approval from Investment Promotion Board, Industries of Government Department of Nepal. GMR Energy being the majority shareholder has also nominated Directors on the Board of Himtal.

UNI