WORLD Qatar Investment Authority to invest 450 mln USD in India's power company

WORLD

Qatar Investment Authority to invest 450 mln USD in India's power company

Xinhua

22:26, December 12, 2019

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File photo: CGTN

NEW DELHI, Dec. 12 (Xinhua) -- The Qatar Investment Authority (QIA) has decided to invest 450 million U.S. dollars in Adani Electricity Mumbai Limited (AEML), an electricity transmission company which currently serves over 3 million consumers in India's financial capital Mumbai.

The transaction is expected to be completed early next year, said a statement issued jointly by the two sides.

According to media reports, AEML's parent company Adani Transmission Limited said in a stock exchange filing that the Qatar company's investment is for AEML's 25.1 percent stake.

QIA's chief executive officer Mansoor Bin Ebrahim Al-Mahmoud was quoted as saying "we look forward to a long term partnership with the Adani Group."

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