UK's OPG Power Ventures to invest 1.5 billion pounds in Gujarat

AHMEDABAD: British energy giant OPG Power Ventures will further invest 1.5 billion pounds in Gujarat, a visiting UK Minister said here today.

"UK's company OPG Power Ventures will increase their power production from 300 MW to 2,300 MW with a further investment of 1.5 billion pounds in Gujarat," British Minister of State for Trade and Investment Lord Livingston said.

It has completed construction of a 300 MW thermal power plant in Kutch, in which it has invested 400 million pounds, an official release said.

The UK-registered company is employing 600 people in India and is listed on the London stock exchange since 2008, it said.

The UK is India's largest G-20 investor and India invests more in the UK than it invests in the rest of the European Union combined, Livingston pointed out.

The UK has invested 3.2 billion dollars in India, more than any other G20 country and more than Japan and the US, added Livingston.

The UK is the partner country for the Vibrant Gujarat Global Summit which would start tomorrow, and has sent a delegation representing 60 British companies, with 100 delegates.