Abhijeet Group Signed Deal with Chinese DongFang

Abhijeet Group which is a leading power and infrastructure company on 20 December 2010 declared that it signed a $2.5-billion deal with Chinese power equipment maker DongFang for sourcing equipment for its power projects. The financing of the deal would be through the proceeds from initial public offer. Abhijeet Group currently has a power generation capacity of 100 MW with its projects in West Bengal and Maharashtra. The company plans to increase this capacity to 300 MW by the end of the current financial year.

Dongfang Electric Corporation is a Chinese Government holding company that specialises in power equipment manufacturing. Dongfang Electric also focuses on worldwide power projects, contracting for thermal, hydro, nuclear, wind, solar, gas turbine, and combined cycle power plants.