Hinduja Group is expected to finalize a strategic investor to offload a 15% stake in the 1040MW coal-based power project at Visakhapatnam in Andhra Pradesh by August 2008. The group is at an advanced stage of talks with 5 investors from Japan and 2 from Europe. The AP government has allocated land for the project and coal linkage is closer to being finalized. The total cost of the project is estimated at around USD1 billion.
