Business Daily from THE HINDU group of publications
Wednesday, Jul 11, 2007
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Business Daily from THE HINDU group of publications Wednesday, Jul 11, 2007 ePaper |
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Power Corporate - Outlook
Adding capacity: Mr Anil Ambani, Chairman, Reliance Energy, addressing the company’s AGM in Mumbai on Tuesday. The company would have to invest Rs 60,000 crore in the next five years to add a capacity of 15,000 MW of power.
Our Bureau
Mumbai, July 10 Reliance Energy Ltd (REL) has estimated that it would have to invest Rs 60,000 crore in next five years to add a capacity of 15,000 MW of power. The power distribution business in Mumbai and Delhi is expected to grow at an average annual growth rate of eight to 10 per cent, said Mr Anil Ambani, Chairman of REL, at the 78 AGM on Tuesday. 2 major projects
Mr Ambani said that the company has secured two major projects for power transmission, which would require an investment of Rs 2,750 crore. The company would also target two ultra mega projects, which would require an investment outlay of Rs 40,000 crore. The EPC business, with a current order book of Rs 5,500 crore, is expected to grow during the year for new projects worth over Rs 20,000 crore, he said. Mr Ambani while addressing the queries from the shareholders regarding its two mega power projects in Uttar Pradesh, said that he was hopeful of making substantial progress in the projects, where a new Bahujan Samaj Party led Government had cleared the proposals. He said that, Rosa power project (1200 MW) was approved two weeks ago by the Uttar Pradesh Government. The State Government is of the view that even the Dadri project (7,480 MW) can move ahead as long as it secures the required gas for ther project, he said. REL is contracted to receive natural gas from Reliance Industries Ltd. Maharashtra project
Mr Ambani said that the 4,000 MW power project at Shahpur in Maharashtra is at an advanced stage of development and is estimated to cost Rs 15,000 crore. It will comprise of a 2,800 MW gas-based plant and imported coal based 1,200 MW plant. Maharashtra Industrial Development Coropration (MIDC) has also selected REL through competitive bidding to set up a 300 MW project at Butibori near Nagpur. The company is looking at expanding Dahanu power project near Mumbai by 500 MW. The company is hopeful of getting environment clearance for the expansion soon, he said. Mr Ambani said that the recent Indo-US initiative on civil nuclear co-operation in the power sector augurs well for India’s long-term energy security.
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