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Home > Business > Anil Ambani group, SpiceJet sign USD 5 billion deals with US firms

Anil Ambani group, SpiceJet sign USD 5 billion deals with US firms

Monday, November 08, 2010

The Anil Ambani group firm Reliance Power and the low cost airline SpiceJet have inked deals worth USD 5 billion with US firms, including GE and Boeing, in the presence of US President Barack Obama.

Chairman ADA group Anil Ambani announced a deal to procure gas turbines for 2,400 megawatt power project from GE and other US firms, totaling an investment of USD 2.2 billion.

The gas turbine for the Rs 10,000 crore expansion of Samalkot power project in Andhra Pradesh would be valued at USD 750 million, the company said later in a statement.

On the signing occasion, Obama said the deals barely scratched the potential and dubbed India as the market of the future where Washington was willing to step up investments, provided uncertainties relating to tariffs and other barriers were addressed.

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