Sembcorp Industries

Sembcorp Industries: Sole power plant in India secured its 1st long-term power purchase agreement with a group of SOE power distribution companies. The 1320MW plant, which will begin operations in 2H14, will sell 500MW of power to the Central, Eastern, Southern and Northern Power Distribution Companies of Andhra Pradesh for 25 yrs. SCI owns a 49% stake in the plant, with 51% held by Gayatri Projects. Group declined to reveal the expected annual revenue stream from the power purchase agreement. SCI currently trades at 11.6% historical P/E, 1.9x P/B.