SOURCE: Industrial Info Resources

August 12, 2008 05:30 ET

Reliance Infrastructure and Shanghai Electric in $3 Billion Joint Venture Talks, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - August 12, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Reliance Infrastructure Limited (BOM:500390) (Mumbai, India) and Shanghai Electric Corporation Limited (Shanghai, China) are in talks over a potential joint venture worth $3 billion. The joint venture is expected to be one of the biggest tie-ups in Asia, involving the manufacture of power plant equipment such as boilers, turbines and generator sets. Among other joint ventures in the power sector is the alliance between Toshiba Corporation (PINKSHEETS:TOSBF) (Minato, Tokyo) and the O. P. Jindal Group (New Delhi). Established with an initial capital investment of $50 million, the joint venture will design, manufacture, maintain and market mid- to large-size steam turbines and generators. France's Alstom (EPA:ALO) (Paris) also is considering a $500 million joint venture with India's Bharat Forge Limited (BOM:500493) (Pune, Maharashtra).

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