The Hindu : Business : NTPC to invest Rs. 13,000 crore in 2008-09

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NTPC to invest Rs. 13,000 crore in 2008-09

Special Correspondent

To import 3 m tonnes of LNG
Plans to set up power exchange

NEW DELHI: National Thermal Power Corporation (NTPC) on Thursday announced that it planned to invest nearly Rs. 13,000 crore during 2008-09 and add 2,700 MW of power during the period with the aim of touching the 50,000 MW mark by 2012.

Talking to reports on the sidelines of the Energy Technology Conclave here, T. Sankaralingam, Chairman, said major expansion plans were in the offing, including looking for assets and investments abroad. “Our spending plan is Rs. 13,000 crore for 2008-09.

“We will add 2,700 MW capacity,” he added.

Asked about the funding for the proposed projects, Mr. Sankaralingam said it would be a mix of equity and debt in the 30:70 ratio. He said the spending for 2007-08 was around Rs. 11,000 crore. As part of the XI Plan, NTPC aims to become a 50,000-MW company by 2012.

Mr. Sankaralingam said the company was seeking to import three million tonnes of liquefied natural gas (LNG) from Nigeria. NTPC had already signed an agreement with the Nigerian Government under which it would set up two big power plants in that country in return for natural gas to feed its plants in India.

The company is looking for such agreements with some other African nations and third world countries in the near future.

Earlier, Mr. Sankaralingam said NTPC would sign an agreement with National Hydroelectric Power Corporation (NHPC), Power Finance Corporation (PFC) and Tata Consultancy Services (TCS) by the end of this month to set up the country’s third power exchange, after it parted ways with NCDEX upon failing to reach consensus on certain key issues.

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