CESC to start hydel power project

MUMBAI: CESC has forayed into hydel power business and plans to invest Rs 630 crore in its first project. Around 70 per cent of the funds for the project will be raised via debt and remaining 30 per cent through internal accruals.

The company expects financial closure in 12-15 months.

The market discounted the entry into hydel power business and the scrip was at Rs 369, down 1.95 per cent on the NSE. It touched a low of Rs 368.05 and high of Rs 374 in trade so far.