Sembcorp Industries is prepared to pump about US$600 million ($836 million) into its Sembcorp Gayatri Power Ltd (SGPL) unit that works a 1,320 MW warm plant in Andhra Pradesh, India.
Sembcorp will subscribe to US$600 million worth of bonds issued by the Indian unit, as indicated by online media reports from India. The assets will be utilized by Sembcorp Gayatri to pay down its residential obligation from about US$1.05 billion to about US$450 million.
Sembcorp Gayatri assembled the power plant at a venture of about US$1.5 billion.
The capital imbuement from the parent shows the gathering's trust in the long haul prospects of customary warm power business in India, which at present is betting on a large group of approach changes in the power esteem chain beginning from straightforward coal supplies to obligation rebuilding in the dissemination business for a development jolt.
In a reaction to messaged questions from the media, Sembcorp has cleared up that there is no crisp capital mixture being arranged.
Sembcorp Utilities, an arm of Sembcorp Industries which is controlled by Singapore's speculation firm Temasek Holdings, has sun oriented and wind control resources in India.
It has significant development arranges in the nation, incorporating into on location coordinations of extensive petrochemical edifices, squander administration and urban arranging.
"Sembcorp has near US$4 billion interest in India in value and obligation speaking to 30% of the organization's worldwide monetary record. That will be kept up going ahead if manageable profits are for offer," included the primary individual refered to above.
Shares off Sembcorp are up 2 pennies at $3.15.
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