SEPC, Chinese firm ink pact on power projects

SEPC, Chinese firm ink pact on power projects

Mumbai: Engineering services provider Shriram EPC on Monday said it has inked an agreement with China-based North West Electric Power Design Institute to execute thermal power projects in India.

The company has signed a memorandum of understanding (MoU) with China-based NWEPWI to form a consortium for the execution of thermal power projects on an EPC (engineer, procure and construct) basis in India, SEPC said in a filing to the Bombay Stock Exchange (BSE).

“As a part of the consortium, SEPC will now be able to bid for power projects that were previously out of reach", SEPC managing director M.A. Shariff said.

The MoU would be in place for five years and could be further extended, the filing said.

Shares of SEPC were trading at Rs230 on BSE, up 4.05% from its previous close.