Mudajaya Group is planning a share placement exercise which may raise RM185.8m to be used as working capital and to fund new investments, possibly in India. Mudajaya is presently involved in a power generation project in India through its wholly owned unit Mudajaya Corp Bhd which controls a 26% stake in RKM Powergen Private Limited, a SPV undertaking the project. While Mudajaya is engaged in the construction of 1,440MW coal fired plant in Chattisgarh, the company was also reported to be bidding for various projects worth RM400m in India.
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