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Temasek's investment with Reliance okayed
By siliconindia
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Friday, 03 September 2004, 19:30 IST
SINGAPORE: India has approved investment firm Temasek Holding's plans to invest jointly with Reliance Energy in Indian power projects.
Temasek is putting 4.5 billion rupees or some S$167m in these projects.
Reliance Industries is India's biggest non-state company.
Temasek has already invested more than US$500m or S$858m in India.
It has a 9 percent stake in ICICI Bank and a 7.7 percent stake in drugmaker Matrix Laboratories, and has also invested in funds with a focus on India.