The Company has recently identified power sector as the next opportunity of growing / diversifying its business.  Towards this objective, we have recently initiated a ‘Scheme of Merger by Absorption’ of Hinduja National Power Corporation Limited (‘HNPCL’) into the Company subject to requisite approvals.  HNPCL has a thermal power capacity of 520 MW X2 (1040) MW at its plant located near Visakhapatnam, Andhra Pradesh.

The State of Andhra Pradesh and particularly Visakhapatnam region is expected to witness big surge in power demand in the coming years.  Apart from being an industrial cluster, the port city is attracting big data centres and other prestigious projects by Google, Meta, HCL Tech, etc.