◆NCC close to selling its thermal power assets to Sembcorp
【HYDERABAD】Infrastructure firm Nagarjuna Construction Company Ltd(NCC) has signed a detailed term sheet to sell its thermal power assets to Singapore global utilities services firm Sembcorp Industries Ltd(SIL).
The sources said NCC and Sembcorp agreed on a broad framework to determine premiums to be paid on attainment of milestones.
The development comes days after France's power GDF Suez agreed to buy a 74% stake in Meenakshi Energy, possibly indicating revival of interest among global investors in Indian infrastructure.