Family business signs among biggest deals this year

Reliance Power, the Indian energy company controlled by Anil Ambani, has ordered $10 billion worth of power generation equipment from Shanghai Electric Group.
 
The deal is not only one of the biggest done by any family-controlled company this year, but it is the largest ever single business relationship between India and China, according to Ambani.
 
Shanghai Electric will supply 42 coal-based power generation units of 660MW each and will also supply spare parts, services and training in India.
 
"The strategic cooperation between Reliance Power and leading global suppliers like Shanghai Electric will enable faster project execution of our projects," Reliance Power chief executive J.P. Chalsani said in the statement.
 
Reliance Power is a part of the Reliance ADA group, controlled by Ambani.
 
Anil Ambani (pictured) is the younger son of Dhirubhai Ambani, who founded Reliance in 1966. The company split in 2006 due to irreconcilable differences between Anil and his elder brother Mukesh, who now runs Reliance Industries. 

Anil is estimated by Forbes to have a personal fortune of more than $13 billion, but he was one of the biggest losers in the 2008/09 financial and economic crisis. Some sources say he lost as much as $30 billion.

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