London, June 26: Britain, which has made privatisation a success in the power sector, has offered it expertise to India under a memorandum of understanding signed between the two countries. The MoU would also attract foreign investment in power sector and help New Delhi in its ambitious plan to provide 41,000 mw new capacity in the next five years, minister of power, heavy industry and public enterprises Suresh P Prabhu, who signed the MoU with British Secretary of State for trade and industry Patricia Hewitt here last evening, said.

The British trade and industry secretary would lead a high-power delegation in January next to explore possibilities of investment and also attend the first formal meeting of the working group established under the MoU to promote and facilitate reform in the power sector. "The MoU provides for the establishment of a joint power sector working group for promoting and facilitating reform in the power sector," he told reporters.

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It also envisaged undertaking various measures to facilitate development of power sector, exchange of experts and sharing of information, experiences and best practices, he said.

The concerned ministers of the two countries would be the patrons of the group, which would meet every year, alternatively in each country to review progress of the implementation of the MoU.
Bureau Report