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Publish Date : 13-Jan-2015

UK Trade Minister joins OPG Power Ventures in welcoming completion of thermal power plant in Gujarat and agreement to invest further Ł1.5 billion. British Minister for Trade and Investment Lord Livingston, today welcomed the completion of a 300MW thermal power plant in Kutch, Gujarat, built by the UK company OPG Power Ventures. The company has already invested Ł400 million in India and has committed a further Ł1.5 billion to increase output to 2300MW.

Lord Livingston, leading a delegation of over 60 British companies to Vibrant Gujarat, said: The economic relationship between the UK and India is strong and well-established. We are the largest major investor in India, and India invests more in the UK than in the rest of the EU combined. Indian companies make a fantastic contribution in the UK, and British businesses are involved in excellent projects in India. Both countries are keen to pursue new opportunities to develop deeper business ties both in the UK and in India, and I am delighted to be leading such a strong delegation of British companies at Vibrant Gujarat.

Arvind Gupta, MD & CEO, OPG Power Ventures said: Even as OPG’s completed 2 x 150 MW power station - the largest UK foreign direct investment in the state’s power sector - is readying for its inauguration this month, the group is preparing for its next major initiative in Gujarat: the implementation of a further 2300 MW of thermal power capacity.

We are sure that this new OPG initiative will not only contribute in time to meeting the further power needs of the state but will also serve as a continuing example of fruitful UK-India investment co-operation in building the country’s infrastructure. OPG India is a subsidiary of OPG UK. OPG are a UK registered company employing 600 people in India. They have been listed on the London Stock Exchange since 2008. The thermal power plant in Kutch has been part financed by successfully raising Ł70 million equity on the exchange, something the India-UK financial partnership is seeking to promote.

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