Reliance Energy set to grow at an explosive pace: Anil Ambani

By Staff
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Google Oneindia News

Mumbai July 10 (UNI) Reliance Energy is poised to grow at an explosive pace, with focus on large-scale generation projects using coal, gas, hydro and other renewable fuels Reliance Energy Chairman Anil Ambani said today.

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

Sharing thecompany's future plans on the energy front, he said in the transmission space, they were working on two large projects at a cost 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 and will be amending the memorandum of association (MoA) with the shareholders to include the prospect of nuclear power generation.

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

On the hydro power generation, the company has emerged as the preferred bidder for six projects in Arunachal Pradesh and had already commenced work on two hydro projects in the state. The total committment of Rs 2,500 crore will make Reliance energy the single largest investor in the North East region, he said.

UNI

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