Sembcorp to invest $1b in India; wins contract to build $300m power plant in Myanmar

Sembcorp corporate logo

Singapore-based Sembcorp Industries, which maintains holdings in the infrastructure, utilities and the maritime and energy sectors, is looking to invest more than $1 billion over the next 5-7 years, doubling its renewable energy  portfolio in India, according to the Economic Times.

With $11.97 billion (S$16 billion) of assets across the utilities value chain, it’s also a global leader in offshore rig and ship construction. This investment apparently reflects increased wariness and a shift away from large greenfield thermal coal projects in India, which have faced land acquisition and fuel linkage logjams. Confusion over fixed tariffs in the aftermath of recent coal auctions has increased Sembcorp’s wariness of investing in such projects.

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