RP-Sanjiv Goenka group may re-organise power business

RP-Sanjiv Goenka group is contemplating re-organising its power business consolidation of generation and distribution of its power units.

While talking to reporters at Victoria House, Chairman Sanjiv Goenka said: “The consultant is yet to give the final report and we haven’t taken a final call. The decision was taken as we see merit in having all generating units together and the distributions can be brought under a separate umbrella.”

He added that as per his personal choice, there is no logic to keep their distribution business in Rajasthan or distribution in Noida under separate companies. “I now need separate management and multiple CFOs or MDs for each of these businesses. There could be probably separate companies each for generation and distribution businesses,” Goenka maintained.

Six of his companies are engaged in power business, generating close to around Rs 10,000 crore in revenue.

They are Haldia Energy, Dhariwal Infrastructure, Crescent Power, Noida Power, Surya Vidyut and CESC Ltd. It has both generation and distribution rights in Kolkata, parts of Howrah and Hooghly in West Bengal, Uttar Pradesh, and distribution franchisee Kota and Bharatpur in Rajasthan.