New Delhi, Jun 12 (UNI) Engineering major Larsen and Toubro Ltd (L&T) today said it plans to invest Rs 25,000 crore to build 5,000 MW of capacity in the next five years.
''We plan to invest Rs 25,000 crore to build 5,000 MW capacity in the next five years. Power is going to be one of our focus areas in the coming years,'' company CMD A M Naik told reporters here.
He said the company aims to commission it first plant in 2013 and will bid for the 12 remaining ultra mega power projects (UMPPs).
Ruling out the equity route to funds these projects, Mr Naik said the funds will be generated through internal accruals. ''If we do go for an IPO (initial public offer), if required, I don't see it happening before March 2011,'' he added.
The company will initially focus on the thermal power, and then eventually go for the nuclear energy.
Mr Naik was optimistic that his company will maintan a revenue growth of 25-30 per cent in this fiscal and targets to become Rs 80,000 crore company by 2015.
''We will maintain our growth rate of 25-30 per cent in FY09. We targets to become Rs40,000 crore company by the end of this fiscal and will double our revenue by 2015,'' Mr Naik said.
UNI MP SR AS2058