Financial Daily from THE HINDU group of publications
Wednesday, Dec 08, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 08, 2004 |
|
|
|
|
|
Industry & Economy
-
Power REL arms to invest Rs 3,700 cr in Delhi's distribution circles Our Bureau
New Delhi , Dec. 7 THE two Delhi-based power distribution arms of Reliance Energy Ltd (REL) are to invest about Rs 3,700 crore by the end of 2005-06 to strengthen the power distribution network in the Capital. The Chief Executive of the BSES companies, Mr Rakesh Aggarwal, said on Tuesday that of the Rs 3,700-crore investment plan, REL subsidiaries — BSES Rajdhani Power Ltd and BSES Yamuna Power Ltd — would pump in Rs 2,800 crore during the current fiscal. The companies would invest close to Rs 1,000 crore in 2005-06, he said at the sidelines of the India Economic Summit here. "Our plan is to invest Rs 3,700 crore by 2005-06 into our Delhi power distribution circles," Mr Aggarwal said. The money would be spent on cabling, building transformers, grid stations and for metering, among other things, he said. The funding would be done through a combination of debt and equity. Further, the company also plans to spend Rs 500 crore to build a high voltage distribution system, which would cut the company's commercial losses, he said. Reliance Energy is the country's second largest private power generator with a capacity of over 900 MW. The company acquired 51 per cent stake in two of the three distribution companies in the Capital from the Delhi Government in 2002. The Delhi Government holds the remaining 49 per cent stake. Reliance Energy also plans to set up a 3,500 MW thermal power station Dadri in Uttar Pradesh.
More Stories on : Power
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|