'Reliance Energy set to grow at an explosive pace'

By Staff
|
Google Oneindia News

Mumbai July 10: Reliance Energy is poised to grow at an explosivepace, with focus on large-scale generation projects using coal, gas,hydro and other renewable fuels Reliance Energy Chairman Anil Ambanisaid today.

Speaking to mediapersons on the sidelines of the AGM here, Ambanisaid ''the total target for capacity addition in generation over thenext five years is 15,000 MW at an investment outlay of Rs 60,000crore''.

Sharing thecompany's future plans on the energy front, he said inthe transmission space, they were working on two large projects at acost of Rs 2,750 crore.

''We will bid for all ultra mega transmission projects as and when they are put to competitive bidding,'' Mr Anil Ambani said.

He expressed confidence that the company's distribution business in Mumbai and Delhi will grow at a rate of 8 to 10 per cent.

The company is also planning to enter the nuclear power sector andwill be amending the memorandum of association (MoA) with theshareholders to include the prospect of nuclear power generation.

''Once the necessary legislative changes are made, our endeavourin the first phase will be to develop 2,000 MW of nuclear power at acost of Rs 12,000 crore''.

On the hydro power generation, the company has emerged as thepreferred bidder for six projects in Arunachal Pradesh and had alreadycommenced work on two hydro projects in the state. The totalcommittment of Rs 2,500 crore will make Reliance energy the singlelargest investor in the North East region, he said.


UNI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X