Avijit Bajpai, Tuesday 23rd June 2009 
India\'s largest power producer National Thermal Power Corporation (NTPC) announced on Monday that it was purchasing a notable 44.6 percent stake in Kerala government\'s Transformers and Electricals Kerala Ltd (TELK).
The state-run power generator notified that the stake\'s value sits at 313.4 million rupees ($6.4 million), albeit the final cost would be determined by valuation of company\'s assets as at the end of first quarter of the year.
With an all time big operational profits of worth Rs. 36.14 crore, TELK was able to do away with the compiled losses and its net worth had reportedly been positive. In addition to this, the firm also achieved sales turnover worth whopping Rs. 220 crore, export revenues worth Rs. 77 crore, and had Rs. 286 crore in booked orders.
The JV, between NTPC and TELK, would take up time-bound modernisation and expansion plans for the latter, at an estimated cost of Rs. 188.65 crore. This includes Rs. 48 crore for augment and revamping program, which is said to be accomplished within a year\'s time, Rs. 112 crore plans for expansion, as well as Rs. 28 crore plans mobile repair facility.
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