Bhoruka Power buys SLS Power for Rs 80 crore

Mumbai, July 05, 2007: Bhoruka Power Corporation Limited, part of the leading Bhoruka Group, today announced the acquisition of SLS Power Industries for Rs 80 crores. The Bangalore-based SLS Power Industries has two hydro stations at the Kaveri and Tungabadhra bases with a total capacity of 12 MW. With this acquisition, BPCL is augmenting its presence in the clean power sector in India with a revenue target of Rs 200 crores by 2009.

Bhoruka Power is today the leader in Small Hydro in the country, having implemented 89 MW consisting of 15 hydro stations and two wind power plant.

Speaking on the acquisition, Mr S N Agarwal, Chairman, Bhoruka Group, said, "While conventional power remains the backbone of the energy industry, India is one of the key contributors to the global environment movement and has recognized the need for augmenting at least 10% of capacities through the Renewable Energy mode. Government of India has announced a programme of reaching 12000 MW of installed capacity through the Renewable Energy route by the year 2010, which includes 2000 MW of small hydro power.

Mr S Chandrasekhar, Managing Director, BPCL, said, "Our plans up to 2009 envisage addition of 110 MW greenfield projects in India and abroad. Over the next few years, the major thrust would be to sustain the leadership position in this sector and at the same time build capacities in the conventional fossil fuel sector as well."

Some of the companies under the Bhoruka Group include Bhoruka Power Corporation Limited, Bhuruka Gases Limited (BGL), Bhoruka Park Pvt Ltd and Bhoruka Welfare Trust.

About Bhoruka Group

Headquartered in Bangalore, Bhoruka Group has diversified in to many sectors over the past four decades. Some of the companies under Bhoruka Group include Bhoruka Power Corporation Limited (BPCL) - the first company in private sector to successfully commission a hydropower station in the post independence era, Bhuruka Gases Limited (BGL), the largest merchant gas plant in the country, Bhoruka Steel which continues its operations through Stevedoring based out of Chennai and the Bhoruka Park Pvt Ltd. The Bhoruka Group carries on its CSR initiatives under the aegis of Bhoruka Welfare Trust. BPCL has created an image for itself as a world class company for commissioning, installing, operating, maintaining mini hydel projects. Presently it operates 61MW from16 plants. BGL formerly known as Karnataka Oxygen Ltd. was established in the year 1974.They are the manufacturer of Industrial Gases with its facilities located in Bangalore and a branch at Chennai. It is the largest merchant gas plant in the country. Bhoruka Steel has a refractory division based out of Bangalore. For more information on Bhoruka Group, please visit the website www.bhorukagroup.com

About Bhoruka Power Corporation Limited

Bhoruka Power Corporation Limited (BPCL) presently operates 61MW from 16 plants. The first company in the private sector to successfully commission a hydro power station in the post independence era, BPCL was incepted in 1986. Today, an ISO 9001 and ISO 14001 Company, BPCL has created an image for itself as a world-class company for commissioning, installation, operation and maintenance of mini hydel projects. Recording a sustained growth over the years, the company brings to the table, a unique mix of engineering intellect, project management capability, deep industry experience and impressive manpower with extensive experience and understanding of electrical, mechanical and civil designs. For more information, please visit www.bhorukapower.com.