ADA Group's Reliance Energy and GMR Infrastructure are the two Indian firms that have been shortlisted in the bidding process to acquire Singapore's Tuas Power, one of the three power firms put on block.
Tata Power, the country's largest power utility, has emerged as the only Indian company among the six firms shortlisted to bid for Singapore's largest power utility, Senoko Power, which is likely to be sold at over $3 billion.
The debt-laden company, which recently won its first railway construction project, is looking at a four-fold increase in its order book next year.