Sembcorp India says payment delays raising developer costs
New Delhi
SEMBCORP Industries Ltd said recurring payment delays by Indian electricity retailers are piling on costs to operators and are bad for the renewable power business it wants to build.
Payment delays risk "affecting development of the sector", Sembcorp India chief executive officer Vipul Tuli said in New Delhi. The local unit of the Singaporean conglomerate, which last month won an auction to supply wind power in India, already has US$4 billion of energy assets in the country.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Asia markets mixed after Fed leaves rates unchanged; STI rises 0.1%
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet