Anil Ambani positive on finding funds for mega projects

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Mumbai, Jan 4 (UNI) Buoyed over the growing investment appetite in the power infrastructure of the country, Reliance ADA group Chairman Anil Ambani today said none of the power projects of Reliance Power would suffer for want of funds.

Speaking to newspersons at the mega IPO issue announcement of Reliance Power here, he said several Banks, Institutional investors and foriegn banks were keen on funding the six projects, amounting to about 28000 MW to be taken up by the company. The investment in these projects would go beyond Rs 100,000 crore. Insitutions were willing to extend long term funding to the projects, he added.

He said the company was also in discussion with various global power majors with regard to manufacture of core and critical components for these power plants within the country as a joint venture to save time and produce quality products. He, however, would not name them immediately.

Replying to a question on linkages of imported coal to the thermal projects of Reliance Power, Mr Ambani said the company was already in talks with coal suppliers in Indonesia, Australia and other countries for long term contracts.

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