Reliance Infra in power deal with Shanghai Electric Corp
Anil Ambani’s Reliance Infrastructure entered into an agreement with Shanghai Electric Corporation of China for long-term cooperation for implementing its major plans in power sector various identified areas.
According to the agreement, Shanghai Electric gives Reliance Infra the most favoured customer status while Reliance gives Shanghai Electric the most favoured supplier status.
The framework agreement includes setting up of joint ventures for manufacturing boilers, turbines and generators. The agreement will be valid for five years.