RPG to invest Rs 12K cr in power; expand carbon biz
The RPG group has earmarked an investment of Rs 12,000 crore for power & Rs 450 crore for carbon black as two of its thrust business focus areas.
By PTI |
MUMBAI: The RPG group has earmarked an investment of Rs 12,000 crore for power and Rs 450 crore for carbon black as two of its thrust business focus areas over the next 2-3 year.
"We plan to invest Rs 12,000 crore in our power business of which we have already committed Rs 2,000 crore," RPG Enterprises' Chairman, Harsh Goenka, told media here.
A Rs 450-crore investment has been earmarked for its carbon black businea 2,000 MW thermal power plant and has identified three states where it is assessing the project's prospects.
"We are looking at West Bengal, Jharkhand and Orissa and our decision will be based on availability of coal. Coal-linkages are very important for our project,' Goenka said.
Asked whether the group was considering a gas-based power project, he said non-availability of gas precluded such a project. "I would love to set up a gas-based project, but then, where is the gas?" he asked.
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The group was also expanding capacity at its CESC plant whose efficiency, he said, had reached new highs since the group took it over. "We have reduced transmission and distribution losses from 22 per cent to 13 per cent and enhanced its capacity. Its plant load factor (PLF) is very high and the work-force highly-motivated," Goenka said.
Goenka said that the group distributed power in Noida and was now looking to cater to new markets.
On carbon black, Goenka said "we have decided to set up our fourth plant at Mundra while the location of the fifth will be decided soon."
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An investment of Rs 450 crore has been earmarked for expansions in this business. The group also proposes to set up power plants next to these units. Its three existing facilities are located in Kochi, Durgapur and Vadodara.
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With a view to expand its global footprint, especially in the Far East, the group recently entered into a JV with VinaChem of Vietnam in which it will hold a majority stake. Start a SIP with as low as ₹500 with ET Money App!
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