Finnish engineering group Wartsila has said it has no joint venture with London based Swraj Paul's Caparo Group denying a newspaper report linking the two firms.

The Economic Times had reported last week that Indian turbine maker Suzlon Energy was in talks with the UK group to build wind farms for Caparo Energy, saying it was a joint venture with the Finnish company.

The Finnish group's public relations agency in India said that "Wartsila has not formed any joint venture with Caparo Group named Caparo Energy India. Wartsila is not a business partner with Caparo Group for a wind-based power plant.”

Suzlon declined to comment on the Economic Times report. The company said that "Suzlon speaks with a range of people about all aspects of its business and product offerings every day. As a rule we do not comment on market rumors or speculation.”

(Sourced from Reuters)