Financial Daily from THE HINDU group of publications
Thursday, Sep 23, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 23, 2004 |
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Announcements Industry & Economy - Power Kawas, Gandhar projects — NTPC to invite bids for additional gas supply Our Bureau
Mumbai , Sept. 22 NEW tenders for supplying additional natural gas to NTPC's Kawas and Gandhar projects will be called on November 15 and December 1. National Thermal Power Corporation Ltd plans to place an order for supplies by March 31, 2005 for gas supplies to NTPC's 2600 MW capacity expansion, Mr C.P. Jain, Chairman and Managing Director, said on Wednesday. The company has already tied up 3 million tonnes gas supplies from Reliance Industries' Krishna-Godavari gas fields for the first phase of Kawas and Gandhar for $ 2.97 per million British thermal units. Also, technical bids for gas supplies to NTPC's 1,950-MW capacity expansion at Kayamkulam were opened on Tuesday, Mr Jain said. The company is looking for 2 million tonne LNG supplies at not more than $3 per million Btu, company officials said. Mr Jain was speaking at the company's first road show announcing its maiden public issue. The public issue comprising 84.5215 crore shares opens on October 7, the price band for which has been set between Rs 52-62 per share. This will form 10.5 per cent of fully diluted paid-up capital once the issue is completed. Roughly 2.06 crore equity shares have been reserved for NTPC employees. Shares will be issued through 100 per cent book building and 50 per cent of the net issue will be allocated to institutional buyers. At least 25 per cent of the issue will be allocated to non-institutional bidders and retail investors respectively. Mr Jain said NTPC has applied to the Ministry of Coal for allocation of captive coalmines to help ensure reliable supplies of the fuel. The company may consider buying stakes in coalmines through joint ventures.
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