NEW DELHI Aug 24 India's Reliance Power
has signed a deal with China Datang Corp
to develop and operate power and energy projects in India and
overseas, the Indian company said in a statement on Friday.
Reliance, controlled by billionaire Anil Ambani, and the
state-owned Chinese company will form a partnership to invest in
and develop Reliance's coal mines in Indonesia and offer
operations and maintenance services to power plants in India and
Financial details of the partnership were not released.
Reliance Power and other Indian generators have been
increasingly using cheaper Chinese equipment and using Chinese
funding to finance some projects.
Indian power producers have been slow to expand as fuel and
funds have become scarce and cash-strapped distribution
utilities buy less power because they are saddled with $35
billion in debt.
(Reporting by Sanjeev Choudhary; Editing by Matt Driskill)