GMR Group to Invest in Power Sector

Thebullishtrends : GMR Infra shares closed on Friday at Rs.254. As per the reports Infrastructure gaint GMR Group will invest more than Rs.60,000 crore in Power sector and for Coal assets. The company targetted nearly 12,000 MW capacity for the next 5-6 years in which 7,000 MW will be generated by 2010. Now the company is having 800 MW capacity. GMR Energry a subsidiary of GMR Infra is having 3 operational power plants in Andhra Pradesh, Karnataka and Tamilnadu. The group is also executing hydroelectric power projects with a capacity of 640 MW on Alaknanda river in Uttarakhand. It is looking coal blocks in in Indonesia and South Africa.