reports, Jaypee is in talks with Abu Dhabi Water & Electric Authority to sell stake in two if its hydro-power projects in Himachal Pradesh.
The two plants that are likely to be sold are the 300 MW Baspa II and the 1,000 MW Karcham Wangtoo project, both in Himachal Pradesh. Apart from these two the company also operates a 400 MW hydro-power project at Vishnuprayag in Uttarakhand. Jaypee is also considering the sale of its Andhra Pradesh cement manufacturing unit. However, UltraTech chairman Kumar Mangalam Birla on Wednesday ruled out buying this unit.