Reliance Infra sign pact with Shanghai Electric

Mumbai: Reliance Infrastructure belonging to Anil Ambani group has signed an agreement with Shanghai Electric Corporation of China for implementing its mega plans in power sector.

Reliance Infrastructure, earlier known as Reliance Energy said, it has signed a framework agreement for long term cooperation with Shanghai Electric for various identified areas in Indian power sector.

As per the agreement Shanghai Electric would give Reliance Infra the 'most favoured customer' status while Reliance would give Shanghai Electric the 'most favoured supplier' status.

The framework agreement includes setting up of joint ventures for manufacturing boilers, turbines and generators. The agreement will be valid for five years, the release said.

Shanghai Electric now will give priority to Reliance Infra for designing, engineering and manufacturing of power plants as also in pricing and terms of payment.

Reliance Infrastructure is implementing power projects with a capacity of over 28,000 Mw.