Haldia Petrochemicals (HPL) today announced that it has acquired Larsen & Toubro's 51per cent stake in HPL Cogeneration (HPLCL), the joint venture for captive power supply with HPL, for an estimated Rs 180 crore.
The buy-out came at a time when the company was operating in adverse circumstances with the bottomline under great pressure. The 10-year joint venture produced 116 mw for HPL's operations. According to the initial agreement, HPL could buy out L&T's stake in 2020 at a suitable price. However, both parties decided to go ahead with a buy-out now.
Read more in The Business Standard article.
Showing posts with label HPL Congregation. Show all posts
Showing posts with label HPL Congregation. Show all posts
Wednesday, May 7, 2008
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