NTPC to double capital expenditure in current fiscal

NEW DELHI: State-run NTPC on Wednesday reported that March quarter net profit provisionally rose 24%, and said it would double capital expenditure in the current fiscal to boost generation capacity. The power utility plans to double capital expenditure in the current fiscal to 26,400 crore to add 4,320 mw generation capacity, chairman and managing director Arup Roy Choudhury said.


"The capital expenditure for current financial year would be financed in the ratio 70:30. The equity portion would be met through internal accruals. We have an unutilised debt of 20,540 crore. We would raise $500 million through euro bonds in May-June this year," Choudhury said.


NTPC, which is scouting for coal assets in Australia, Indonesia, South Africa and Mozambique, has a generation capacity of 34,194 mw. It is executing 15 power projects with a total capacity of 14,748 mw. The company spent 12,818 crore for the 2,490 mw capacity added in the year ended March 2011. The utility also plans to borrow from domestic banks and Life Insurance Corporation of India.