GMR Energy buys 5% stake in South African firm

Coimbatore: GMR Infrastructure Ltd has informed that GMR Energy Ltd (GEL), the company’s 100 per cent subsidiary, has acquired 5 per cent stake in Homeland Mining and Energy SA (Pty) Ltd, South Africa, subsidiary of Homeland Energy Group Ltd, Toronto, Canada.

Homeland Mining & Energy SA (Pty) Ltd holds licence for several coal mining projects in South Africa. This acquisition would ensure fuel security for GMR Group’s power projects in India and will act as a catalyst in the development of the energy business of the group.

GEL also maintains option to acquire an additional 45 per cent stake in Homeland Mining and Energy SA (Pty) Ltd.