Tuesday, January 29, 2008

Gayathri may foray into power generation



Hyderabad based construction firm Gayatri projects is believed to be looking at diversifying into power generation and is scouting for a joint venture partner for a proposed venture . With continued focus on its core business Gayatri projects is now contemplating to diversify into power generation.Though the matter has not been taken to the board for discussion, it is certainly on its  agenda a market source said. Gayatri has plans  to create a separate  subsidiary which will look after the business.In the proposed subsidiary  the company would offer equity stake to a joint venture partner they said. The company is looking for joint venture partner.It can be a domestic company or an overseas one which should have experience in the power generation sector the source said, adding that the company seems to have initiated talks to prospective partners. Company officials however could not be contacted for comments..

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