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Sembcorp Completes Acquisition of 49% Stake in Thermal Powertech Corporation India

February 11, 2011

Further to its announcement on May 25, 2010 of its agreement to acquire a 49% stake in Thermal Powertech Corporation India (TPCIL), Sembcorp is pleased to announce that it has proceeded to inject the first tranche of its equity into TPCIL to complete its acquisition of 49% of TPCIL’s shares. The total consideration for this 49% stake in TPCIL totals Rs 1,042 crores (S$293 million).

TPCIL, a joint venture between Sembcorp’s wholly-owned Utilities business and Gayatri Energy Ventures (GEVL), is set to build, own and operate a 1,320 megawatts coal-fired power plant using high efficiency supercritical technology, to be located in Krishnapatnam, SPSR Nellore District, Andhra Pradesh, India. TPCIL has also earlier signed financing arrangements with lenders for 75% of the total project cost of approximately Rs 6,869 crores (S$1.9 billion).

TPCIL has initiated construction for the project, which is expected to begin plant commissioning in the second half of 2013 and full commercial operations in 2014. The plant will be operated and maintained by Sembcorp Gayatri O&M Company, a separate operations and maintenance company which is 70% owned by Sembcorp and 30% owned by GEVL.

The completion of this acquisition is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the current financial year.

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For analysts’ and media queries please contact:
Aleve Co (Ms)
Group Corporate Relations
DID: +65 6723 3178
Email: [email protected]

Fock Siu Ling (Ms)
PR Counsel
Group Corporate Relations
DID: +65 6723 3152
Email: [email protected]


Sembcorp Industries is a leading energy, water and marine group operating in 19 countries across six continents worldwide. With facilities with 5,600 megawatts of gross power capacity and over six million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering, as well as an established developer of integrated townships and industrial parks.

The Group has total assets of over S$10 billion and employs over 8,500 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index and several MSCI indices.

Note to Editors:
Following a company rebrand, please refer to the company as “Sembcorp” (with “S” in upper case and “c” in lower case), or “Sembcorp Industries” in full. Please also note that “Sembcorp” is not an abbreviation of “Sembawang Corporation” but a brand name in itself, and it is therefore incorrect to refer to our company as “Sembawang”, “Sembawang Corporation” or similar.