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GVK Power Scouting For Coal, Gas Assets

By Reuters

  • 28 Sep 2010

GVK Power & Infrastructure is scouting for coal and gas assets overseas in the range of $200 million to $1 billion to fire its power projects in India, the company's vice chairman said on Tuesday.

GVK is also considering bidding for Indian highway projects worth up to $1 billion, G.V. Sanjay Reddy said at the Reuters India Investment Summit.

The company is looking for coal and gas assets in Indonesia, Australia, Africa and in South East Asia, he said.

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"Depending on how much equity it is, we can easily put in $200 to $300 million," Reddy said. "If we need more equity, then we may look at partners to supplement our requirements."

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