During this financial year, GMR Infrastructure, the Bangalore-based infrastructure major is set to infuse Rs 1,700 crore fresh equity capital in its energy business. The GMR Energy business presently consists of six operating assets with a cumulative capacity of 837 mw and four generation projects under various stages of construction with an aggregate capacity of 3,788 mw.
The fresh equity will be infused in three of its projects – GMR Kamalanga Energy, Emco, Chhattisgarh and transmission projects.
Madhu Terdal, Group CFO, GMR Group, said that the company will infuse Rs 440 crore in Kamalanga, Rs 130 crore in Emco, Rs 830 crore in Chhattisgarh and Rs 15-20 crore in transmission projects this year.
The company will commission the second and third units of 350 mw each of Kamalanga project in July and September, and the second unit of Emco in July. The company will use the funds it mobilised through the sale of a 70 per cent stake in GMR Energy Singapore Pte. It had generated Rs 1,231 crore by divesting stake in its Singapore subsidiary.
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