GMR Group signs deal to buy Island Power

The GMR Group has signed an agreement to buy 100 per cent stake in Singapore-based private electric utility Island Power, which is developing an 800 MW power plant in Jurong Island. Island Power will be the GMR’s first project in South-East Asia. Island Power is setting up a gas-based combined cycle power plant on Jurong Island, which is Singapore’s oil, gas and petrochemicals hub. Contact: GMR Group. Tel: 080-4043 2000. Fax: 080-4043 2180. E-mail: info@gmrgroup.in