NTPC to raise up to Rs 4,500 cr to fund expansion plan
Country's largest power generator NTPC plans to raise up to Rs 4,500 crore in the current financial year in order to fund its expansion plan.
By PTI |
NEW DELHI: Country's largest power generator NTPC plans to raise up to Rs 4,500 crore in the current financial year in order to fund its expansion plan.
"We would raise up to $500 million (about Rs 2,450 crore) from the global market and Rs 2,000 crore from the domestic market through bonds for our expansion plans in the current financial year," NTPC Chairman and Managing Director R S Sharma told reporters here.
NTPC's coal requirement during the 11th Five Year Plan is 230 million tonnes, it plans to import 10 per cent of its demand every year till 2012.
"We would import 10 per cent of 230 million tonnes every year till 2012," Sharma said. It is importing 8.2 million tonnes of fuel in the current financial year.
The installed capacity of NTPC is expected to cross 30,000 MW by the end of the financial year from the current 29,000 MW.
The company has acquired coal blocks in Indonesia to meet the shortfall in fuel supply and would soon carry out due diligence for these two blocks.
Apart from Indonesia, NTPC is also planning to invest in coal mines in Australia, South Africa and Nigeria where the company has sent its representatives for further discussions.
The company lost nearly Rs 94 crore in the current financial year because of low power generation at various plants including Rihand, Vindhyachal, Farakka, Kahalgaon and Talcher due to shortage of coal.
"We would raise up to $500 million (about Rs 2,450 crore) from the global market and Rs 2,000 crore from the domestic market through bonds for our expansion plans in the current financial year," NTPC Chairman and Managing Director R S Sharma told reporters here.
NTPC's coal requirement during the 11th Five Year Plan is 230 million tonnes, it plans to import 10 per cent of its demand every year till 2012.
"We would import 10 per cent of 230 million tonnes every year till 2012," Sharma said. It is importing 8.2 million tonnes of fuel in the current financial year.
The installed capacity of NTPC is expected to cross 30,000 MW by the end of the financial year from the current 29,000 MW.
The company has acquired coal blocks in Indonesia to meet the shortfall in fuel supply and would soon carry out due diligence for these two blocks.
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Apart from Indonesia, NTPC is also planning to invest in coal mines in Australia, South Africa and Nigeria where the company has sent its representatives for further discussions.
The company lost nearly Rs 94 crore in the current financial year because of low power generation at various plants including Rihand, Vindhyachal, Farakka, Kahalgaon and Talcher due to shortage of coal.
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