AHMEDABAD ELECTRICITY-Hampered by High Costs

Hampered by High Costs THE Torrent group of companies, which is run by the Mehtas (chairman: Rohit C Mehta) had operated in the pharmaceutical industry till 1995, when it took over Ahmedabad Electricity Company (AEC) after staving off a counter-bid by Nusli Wadia-controlled Bombay Dyeing. Initially acquiring a 21 per cent stake in the company, the Mehtas increased this to over 50 per cent by buying out the Gujarat government's stake. AEC's plant is located at Vatva near Ahmedabad and is one of the country' oldest plants.