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Low fat spread

01 November 2001

The key to International Power's spending spree is spread of risk. Louise Bowman talks risk mitigation and funding plans with Peter Barlow, finance director at IPR.

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Since its de-merger from National Power in October 2000, International Power has stuck to its strategy of growth in the US, Europe and the Middle East and Australia, claiming that the geographical spread of its operations will protect it from any market downturn. ?The international spread of our operations mitigates our exposure to the business cycles of any single market and provides a strong platform for sustained growth in shareholder value,? declared chairman Sir Neville Simms in the company's interim results, published in September this year. Let's hope he's right ? as any company sitting on top of two power plants in Pakistan needs all the geographical diversity it can get.

To be fair, International Power's two Pakistan-based plants may be about to pay the company a dividend for the first time in three years. International Power has a 26% stake in the Hub River project (run by Hubco), the 1,292MW residual fuel...

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