Financial Daily from THE HINDU group of publications
Tuesday, Feb 10, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 10, 2004 |
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Corporate
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Corporate Bonds NTPC to raise Rs 900 cr thru global bonds Our Bureau
Visakhapatnam , Feb. 9 NATIONAL Thermal Power Corporation (NTPC) is planning to raise Rs 900 crore through international bonds for financing some of its projects, according to its Chairman and Managing Director, Mr C.P Jain. He was speaking to reporters after participating in a function in the Simhadri power plant at Parawada near here on Monday. It was arranged to mark the dedication of the 1,000-MW plant to the nation from New Delhi by the Prime Minister. Mr Jain said NTPC was planning to enhance its installed capacity to 56,000 MW by 2017 from the present 21,247 MW and roughly Rs 1,50,000 crore would be required for the future projects. NTPC would meet 30 per cent of it out of internal resources and the rest through commercial borrowings. He said the NTPC had begun roadshows for its bonds and the process would be completed by the end of the month. He said the response was excellent. Answering a query, he said the NTPC had set up a 800-MW hydro-power project, but there was no prospect of taking up gas-based projects, as the gas rates were too high. "At the present rates, the natural gas cost itself would amount to Rs 1.60 per unit and we want to produce cheap power,'' he said.
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