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New Delhi, Aug. 28

PTC India Financial Services Ltd, a subsidiary of power trading major PTC India Ltd, has entered into an agreement for picking up a minority stake in a 189-MW project coming up in Tamil Nadu. Under the pact, PTC India Financial Services will acquire a 26 per cent equity stake in Ind-Barath Powergencom Ltd for setting up the proposed thermal power plant at Thoothukkudi district, the company said in a statement. However, it did not give any financial details. PTC Financial S ervices, which started operation in mid-2007, has acquired equity stakes in a number of power projects. Earlier this month, it picked up 26 per cent equity stake in Meenakshi Energy for setting up of a 270- MW project at Nellore district in Andhra Pradesh.

— Our Bureau

More Stories on : Alliances & Joint Ventures | Power | Financial Services | Tamil Nadu

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