Shanghai Electric Inks $8.3B Deal With India's Reliance

Law360, New York (October 28, 2010, 4:12 PM EDT) -- The Shanghai Electric Group Company Ltd. told investors at Hong Kong's stock exchange Thursday that they have entered into a deal with Indian power generation company Reliance Power Ltd. to buy electricity generation equipment valued at nearly $8.3 billion in a bid to relieve India's power deficiencies.

Under the deal, the Chinese company will sell 36 generator packages to Reliance Power, a unit of the Reliance ADA Group controlled by Indian billionaire Anil Ambani, according to a brief statement issued by Shanghai Electric Group chairman Xu...
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