Press release from Business Wire India
Source: Business Wire
Tuesday, February 10, 2009 02:53 PM IST (09:23 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Construction, Energy companies, Real estate
Release no: 19195
(BW)(HIRCO-DEVELOPMENTS)Hirco Signs MoU with Tata Power for Hirco’s Panvel Township Project
Mumbai, Maharashtra, India, Tuesday, February 10, 2009 — (Business Wire India) —
Hirco Developments Pvt Ltd, a part of the Hirco Group, India’s largest residential builder and developer of prestigious mixed-use townships, announced today that it has entered into a Memorandum of Understanding (MoU) with The Tata Power Company Ltd, India’s largest integrated private power company, for providing power supply solutions and distribution management to residents and tenants within Hirco’s Panvel SEZ area.
Tata Power will provide its expertise to manage the quality and reliable power distribution system in the Panvel SEZ.
Speaking on the occasion, Mr Firdose Vandrevala, Chairman and Managing Director of Hirco Developments Pvt Ltd said, “The association with Tata Power will enhance our ability to provide reliable power solutions to our customers.”
Mr S Padmanabhan, Executive Director (Operations) of The Tata Power Company Ltd said, “We are happy to sign the first MoU with the Hirco Group for their Panvel Township and look forward to a fruitful association.”
The integrated township project at Panvel will showcase an ideal mix of modern residential units, offices, school, health care facilities, parks, shopping facilities, entertainment centres and more. The combined residential and commercial site is a Special Economic Zone (SEZ) which will provide tax benefits for the occupants.
About Hirco Group
Hirco Group of companies includes the various operations in India and the Middle East of Hiranandani, India’s largest residential builder and leading developer of prestigious mixed-use townships for the country’s increasingly affluent middle class. Hirco’s modern, large-scale developments – combining high quality residential, commercial and retail components with green space and social and recreational facilities – are strategically located in suburban areas outside major city centres.
About Hirco Developments
Hirco Developments acts as the development manager and marketing manager for the current Development Projects of the Hirco Group.
About Tata Power
Tata Power is India’s largest integrated private power and energy company with an installed generation capacity of over 2300 MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution – “North Delhi Power Limited” with Delhi Vidyut Board for distribution in North Delhi, ‘Powerlinks Transmission Ltd.’ with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and ‘Maithon Power Ltd.’ with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. The Company has established global footprint by acquiring 30% stake in Indonesian Coal Mines and is developing the first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and sustainable power, Tata Power is poised for a five-fold growth in five years and committed to ‘lighting up lives’ for generations to come.
Aniruddha Joshi, +91-22-25719181
CONSUMER, MARKETING, BUSINESS SERVICES, CONSTRUCTION, ENERGY, REAL ESTATE
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