Business Daily from THE HINDU group of publications
Thursday, March 13, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Thursday, March 13, 2008 ePaper | Mobile/PDA Version |
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News Update as at 18.00 hrs (IST)
Industry NTPC to invest Rs 13k cr for adding 2,700 MW in FY-09 NEW DELHI: As part of its ambitious plan to become a 50,000-MW company by 2012, state-run NTPC Ltd on Thursday said it will invest Rs 13,000 crore for adding 2,700 MW capacity during the next financial year. "Our spending plan is Rs 13,000 crore for FY-09. We will add 2,700 MW capacity," Mr T Sankaralingam, Chairman and Managing Director, NTPC said on the sidelines of an energy summit here. On funding, he said it would be a mix of equity and debt in 30:70 ratio. "Our spending plan for FY-08 was Rs 11,000 crore," he added. As part of the 11th Five Year Plan, NTPC aims to become a 50,000-MW company by 2012. Mr Sankaralingam said that the company is seeking three million LNG import from Nigeria. Earlier, the CMD had said NTPC would sign an agreement with NHPC, PFC and TCS by March-end to set up the country's third power exchange, after it parted ways with N CDEX upon failing to reach consensus on certain key issues. NTPC planned to partner NCDEX to float a power exchange. The exchange proposed to rope in seven promoters, including National Stock Exchange, Power Grid Corp and Tata Power. However, the proposed venture faced hiccups with power sector regulator Central Electricity Regulatory Commission (CERC) barring Power Grid from participating in any power exchange. CERC had also asked NTPC to form a separate subsidiary for floating the power exchange. NTPC is the most valued company among listed power PSUs with a market capitalisation of more than Rs 1,60,000 crore. - PTI
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