In an interview with CNBC-TV18, Isaac George, CFO, GVK Power & Infrastructure spoke about the latest happenings in his company.
He said that GVK Power & Infrastructure is looking to set up 5,000 megawatts of coal-fired power plants, so the company is considering acquisitions to meet the objective of this coal based power plants. Below is the verbatim transcript of George's interview with Sonia Shenoy and Latha Venkatesh of CNBC-TV18. Also watch the accompanying videos. Q: There are news reports that GVK Power is looking to acquire coal mines in Australia and talks are on with several investors as well. Can you give us more clarity on that? A: As far as the Australian coal mine acquisition is concerned we have been telling that we are looking at coal mines outside the country. We have zeroed down on Indonesia and Australia to acquire coal mines but, the transaction that we are presently looking at I will not be able to make much statement on that basically because I am under confidentiality. So, you will have to kindly excuse me. But, we will certainly once the deal is almost ready, we will certainly come back and tell you what the deal is all about. So, please excuse me this time around. Q: Can you just tell us what kind of funds have you all kept aside for these acquisitions? A: We have not created a war chest for the acquisition but, we are very confident that the required amount of funds for the acquisition can be raised without much of a problem. As far as funding is concerned, I donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
