India's Reliance Power opens talks on Shanghai Electric Power pact

25 July 2008 Reliance Power, the Indian electricity generation group, is in talks with Shanghai Electric Power over a potential joint venture that could become one of the biggest tie-ups in Asia, reports the Financial Times. The Indian group, controlled by Indian billionaire businessman Anil Ambani, said it was also in talks with other manufacturers as it seeks to secure equipment supplies for its plans to build power plants with capacity of 30 000 MW over the next decade. A Reliance Power official said: "We need a partner who can mass produce and meet strict deadlines and cost limitations." Reliance did not name the other producers it was talking to and Shanghai Electric could not be reached for comment on Thursday. The venture would involve making equipment for power plants, with any deal likely to be worth billions of... [read full story]