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New Delhi June 19 Infrastructure company D S Constructions Ltd on Tuesday announced that it has successfully acquired Globeleq America's power assets for $542 million through a 50:50 joint venture with Israel Corporation.

Globeleq Ltd's America assets consists of gas-based and hydro power plants in Peru and Bolivia, fuel-based power assets in El Salvador, the Dominican Republic, Guatemala, Nicaragua, Panama and Jamaica totalling a capacity of over 2,180 MW.

With the conclusion of the deal, these assets of the company have been transferred to the joint venture partners, a company release said.

Mr M.S. Narula, Managing Director, D S Constructions, said, "With our acquisition of power assets in South America we have emerged as a global power entity with a capacity of over 3,400 MW. We have already been awarded 1,260 MW projects in India and with this acquisition, we are moving closer to our goal of becoming a 10,000 MW company by 2015."

More Stories on : Mergers & Acquisitions | Overseas Investments | Real Estate & Construction

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