Days after Ratan Tata’s death, Noel Tata takes another big decision as Tata Power acquires stake in this company for Rs….

Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez inaugurated the TATA-Airbus aircraft assembly facility complex in Vadodara.

New Delhi: Days after Ratan Tata’s death, Tata Power took a major move and informed that it has acquired 40 percent stake in Bhutan-based Khorlochhu Hydro Power Limited for Rs 830 crore. “It has today executed the Share Purchase Agreement between the company, an existing shareholder of KHPL and KHPL,” Tata Power said in an exchange filing.

The Board of Directors of The Tata Power Company Limited in August had approved a proposal for the acquisition of a 40 per cent equity stake in Khorlochhu Hydro Power Limited in one or more tranches. The Tata Power has also informed that the cost for acquisition of a 40 per cent equity stake in KHPL is around Rs 830 crore.

Tata Power said it has finalized an agreement with Druk Green Power Company to develop the hydro project in the neighbouring country at an estimated cost of Rs 6,900 crore.

TATA-Airbus aircraft assembly facility complex inaugurated:

Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez inaugurated the TATA-Airbus aircraft assembly facility complex in Vadodara. The newly inaugurated facility will manufacture C-295 aircraft at the TATA Advanced Systems Limited campus. PM Modi said that the C-295 facility represents the work culture of a new India.

“Recently, we lost the country’s great son Ratan Tata ji. If he had been among us today, he would have been happy, but wherever his soul is, he would be happy. This C-295 aircraft factory reflects the new work culture of New India … When I was the Gujarat CM, it was decided to set up a factory in Vadodara to build train coaches. The factory was also prepared for production within a record time. Today, we are exporting the metro coaches manufactured in that factory to other countries. I am confident that in the future, the aircraft made in this factory will also be exported to other countries,” PM Modi said.