Sterlite Power and GIC form a joint venture to develop power transmission projects in India, with a 51%-49% stake split.
Sterlite Power, backed by Vedanta Group, and Singapore's sovereign wealth fund GIC form a joint venture to develop and operate power transmission projects in India. Sterlite Power will hold a majority stake of 51%, while GIC will own the remaining 49%. The new platform, with a $1-billion investment, aims to play a leading role in India's transmission sector, targeting the $13-billion bid pipeline.
March 27, 2024
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