To Exit Telecom, Review Power

Mumbai, May 30 | Updated: May 31 2004, 05:30am hrs
The AV Birla Group does not see itself as a long-term player in telecom and is willing to exit the business for the right price. As far as its power business goes, it is giving the business a relook.

The Group sees its 33 per cent stake in Idea Cellular as clearly a financial investment for the group, and is not willing to pump more funds into it, said a top group official. We dont see ourselves as a long-term investor.

As regards power, the group is carrying out a feasibility study of the two projects. The 578 MW coal-fired Rosa power plant was to be set up in Shahajanpur in Uttar Pradesh while the 500 MW power plant was to be set up at Bina in Madhya Pradesh.