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Enron chalks out growth plans through acquisitions - Views on News from Equitymaster
 
 
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  • Dec 9, 1999

    Enron chalks out growth plans through acquisitions

    US energy giant, Enron has outlined plans to invest in greenfield power projects, besides acquiring some power plants to increase presence in the country.

    As reported by a leading business daily, Enron International chief executive officer (CEO) Kenneth Lay remarked, 'We are committed to invest in the greenfield power projects in India. There are plans to explore the possibilities of acquiring some if they are economical.'

    In the light of P R Kumaramangalam's statement that some of National Thermal Power Corp.'s (NTPC) plants may be up for sale. Given Enron's ambitious expansion plans, these could be its top picks.

    Enron's Dabhol plant in Maharashtra should be coming up soon. Moreover, the company is keen on augmenting its presence in the oil and gas projects. It is with this aim in mind that it acquired a 6% stake in Gas Authority's (GAIL) recent Global Depository Receipt (GDR) issue. However, Kenneth Lay declined from commenting on whether Enron would buy a stake in Indian Oil's disinvestment next year.

    Enron's interest in buying power plants will hearten P R Kumaramanagalam who remarked a few days ago that the power sector needed tons of investments from the private sector. Enron and other private sector players with their technical expertise and tough cost control measures will be able to run the power plants more efficiently than the public sector players.

     

     

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