Reliance Power has ordered $10bn worth of power generation equipment from Shanghai Electric Group in a deal financed by Chinese banks.
One of the biggest contracts ever between India and China, the deal highlights the growing trade relationship between Asia’s largest emerging economies.
Anil Ambani, the Indian billionaire and chairman of Reliance ADA, said at the signing ceremony on Thursday in Shanghai that the deal was “the largest order in the history of the power sector . . . and the largest single business relationship between India and China”.
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