GMR Energy inks pact with TNB Remaco for JV

GMR Energy has inked a pact with Malaysia’s TNB Repair and Maintenance Sdn Bhd (TNB Remaco) for setting up an operations and maintenance (O&M) joint venture.

“The O&M joint venture between GMR Energy and TNB Remaco will provide operation and maintenance services, performance improvement, testing and diagnostic, repair and refurbishment services for power plants in India,” according to a company statement.

For this purpose, the JV plans to set up a refurbishment and maintenance facility in India. This will be the first time that TNB Remaco shall be investing in a facility outside Malaysia.

TNB Remaco is Malaysia’s premier specialist in power plant repair and maintenance with a proven track record of over 30 years. It is the repair and maintenance arm of Tenaga Nasional Berhad (TNB), the largest power utility player in Malaysia.

TNB had recently invested $300 million (Rs 2,000 crore) in GMR Energy to take up a 30 per cent equity stake in select portfolio of GEL assets on a fully diluted basis.

Image Credit : static.dnaindia.com

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