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Stake sale: NPCIL seeks to raise Rs10,000 cr

Stake sale: NPCIL seeks to raise Rs10,000 cr
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First Published: Tue, Dec 22 2009. 12 27 AM IST
Updated: Tue, Dec 22 2009. 12 27 AM IST
Mumbai: Nuclear Power Corporation of India Ltd (NPCIL) will raise at least Rs10,000 crore by selling equity stakes in projects to large public sector companies, J.K. Ghai, director (finance), said.
He added that the National Aluminium Co. Ltd (Nalco) and Indian Oil Corp. Ltd (IOC) have already signed memoranda of understanding (MoUs) to invest in NPCIL’s projects. “This will be an equity investment with these companies potentially investing up to 50% of the equity requirement. Both Nalco and IOC have surplus funds which they would like to invest,” Ghai said.
NPCIL will need Rs1 trillion to increase generation capacity by 2020, he said. “We are looking at a 30:70 equity to debt ratio and out of the Rs30,000 crore equity we require, we expect to get Rs10,000 crore from these public companies,” he said.
NPCIL is targeting 30,000 MW of power through nuclear plants by 2020, up from the current 4,120 MW. NPCIL also has a joint venture with the National Thermal Power Corporation (NTPC) for generating nuclear power which NTPC will hold 49% in each project.
joel.r@livemint.com
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First Published: Tue, Dec 22 2009. 12 27 AM IST