“CCI approves the proposed acquisition of 100 per cent shareholding of GVK Energy (Goindwal Sahib) Ltd by Punjab State Energy Company Ltd (PSPCL)”, mentioned a CCI publish on X.
‘Creating historical past’
Punjab Chief Minister Bhagwant Mann had mentioned on Monday that his authorities had created historical past by shopping for a personal thermal plant, Goindwal Sahib Thermal Energy Plant for ₹ 1,080 crore, on the most cost-effective worth within the nation.
That is the primary time {that a} State has bought a thermal plant. He mentioned the 540-MW thermal plant can be named after Guru Amardass, the third Guru of Sikhs.
Punjab Energy Company
PSPCL is a totally owned endeavor of the Authorities of Punjab. The erstwhile Punjab State Electrical energy Board (PSEB), was a statutory physique shaped on February, 1, 1959 below the Electrical energy Provide Act, 1948.
The PSEB was “unbundled” by the Authorities of Punjab on April 16, 2010 into two separate entities – Punjab State Energy Company Restricted (PSPCL) and Punjab State Transmission Company Restricted (PSTCL).
GVK Energy (Goindwal Sahib) Ltd was integrated in December 1997 and is a wholly-owned subsidiary of GVK Power Ltd, which in flip, is the subsidiary of GVK Energy and Infrastructure Ltd.
The proposed mixture pertains to the Decision Plan involving 100% acquisition of the GVK Energy (Goindwal Sahib) Restricted by PSPCL as soon as it’s declared because the profitable decision applicant.
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