MUMBAI: Moscow -headquartered Inter RAO Export has signed a memorandum of understanding with Indian power company Essar Power to jointly develop power projects, the company promoted by Ruia brothers said in a statement. "The objective of the document is to integrate the capacities of both companies for operations in the power market of India," the statement said.
An Essar spokesperson said that the two companies will explore jointly running the existing power plant and mines and also look at new projects. The contours of the partnership are yet to be finalised.