Petronas Takes 30% Stake in GMR Energy Singapore

GMR Infrastructure has decided to sell a 30% stake in its unit GMR Energy Singapore Pte Ltd to Petronas International Corp, which is a unit of Malaysian state-run oil company Petronas.

The financial details of the deal has not been revealed yet. GMR Energy is developing an 800 megawatt, gas-based power project on Jurong Island in Singapore.  It will be established by a consortium including Siemens and Samsung. PetrolWorld 270911