GMR Infrastructure – GMR Energy Good move

The banking, financial, realty, IT retail and almost all the other service sectors might be down in the dumps right now. But one sector, which is moving ahead, irrespective of the present circumstances, is the energy or power sector. Given the danger of the Indian economy getting unplugged anytime if we do not take action NOW, its good to see more and more bigwig corporates getting into power generation, especially nuclear power. And the latest company to get into this sector is the powerful GMR group.

After making waves in the area of building airports, which is still continues to do, the subsidiary of GMR Infrastructure – GMR Energy has plans to invest close to Rs.10,000 crore to set up 2,000-3,000 MWe nuclear power capacity over the next 5-7 years. Currently scouting around for partners and assurances of fuel and equipment supplies, it is hopeful of wrapping it all up in the next 6-12 months time frame. Of course this is all subject to the Govt amending the Atomic Energy Act which will allow private sector companies to set up nuclear power stations, which currently is disallowed.

But obviously, like we all know, private sector is bound to be allowed and in anticipation, the company has started sending feelers and even started recruiting employees from Nuclear Power Corporation of India Ltd (NPCIL). This poaching of employees is expected to turn fiercer as more and more companies get into the fray. The employees of NPCIL would be the most blessed and sought after employees today and their hiring prices would only get higher as days go by. Good move by GMR to get cracking with hiring the right people at the right price.
thanks