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Adani Enterprises targets 10,000 MW power generation capacity

Adani Enterprises targets 10,000 MW power generation capacity
PTI
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First Published: Thu, Jan 24 2008. 06 12 PM IST
Updated: Thu, Jan 24 2008. 06 12 PM IST
Mumbai: Adani Enterprises Ltd, which is in the process of raising Rs3,000 crore through a qualified institutional placement, said on 24 January that it is targeting a power generation capacity of 10,000 MW in the next 5 years.
The company has already initiated two power projects totalling 4,620 MW , 2,640 MW at Mundra in Gujarat and 1,980 MW at Gondia in Maharashtra.
In a filing to the Bombay Stock Exchange, the Gautam Adani-led company said it would expand capacity at Mundra by another 1,980 MW, and set up units in Rajasthan (1,320 MW) and Dahej in Gujarat (1,980 MW).
The firm also said it is actively pursuing the proposed coal mining initiatives of various state electricity boards and other PSUs in Chhattisgarh and Orissa in India, and overseas.
Adani Enterprises has already tied up with Rajasthan Rajya Vidyut Utpadan Nigam Ltd for mining coal at Chhattisgarh and supplying the same to power stations in Rajasthan for the next 20 years.
The company said it has begun operation on the coal blocks at Bunyu Island in Indonesia, which are slated to commence operations by April. The blocks would reach full capacity in the next two years.
Besides, the company has announced new initiatives in oil and gas exploration, city gas distribution, real estate and agriculture sectors.
Among these, it would bid for oil and gas blocks under NELP-VII programme of the government, besides exploring opportunities for other blocks in India and overseas.
Adani Welspun Exploration Ltd (AWEL), a 65:35 joint venture of Adani Group and Welspun Group, already has three exploration blocks under its purview in India and Thailand.
“In order to be present across the value chain in these business areas, the company initiated its foray into power generation, coal mining, oil and gas exploration, as well as expanding the city gas distribution footprint to several other cities in India,” Adani Enterprises said, adding that it has identified several new initiatives for the ensuing 3-5 years.
The company would expand its footprint in city gas distribution through a piped gas network to Jaipur and Udaipur in Rajasthan; Lucknow, Khurja and Noida in Uttar Pradesh; and Faridabad in Haryana. At present, it supplies piped gas to Ahmedabad and Baroda.
“There are plans to further expand this business to other cities in India,” it said.
Adani Enetrprises, which forayed into large integrated real estate projects a year back, is also developing townships at Mundra, Cochin and Surat. The company now has more than six projects in progress entailing around 100 mn sq ft of development.
The firm also plans to expand its agriculture business to entire Indian sub-continent and is targeting to reach crushing capacities up to 10,000 tonnes per day and refining capacities of up to 7,200 tonnes per day.
It has secured a project from Food Corporation of India to implement a bulk food grains storage and transportation project, to be implemented on a commercial build, own and operate format.
The project includes development, financing, construction and maintenance at eight locations including Navi Mumbai, Chennai, Coimbatore and Bangalore.
On 4 January, the company announced raising of Rs3,000 crore through qualified institutional placement in the first quarter of 2008.
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First Published: Thu, Jan 24 2008. 06 12 PM IST
More Topics: Adani | Power | Coal | Gujarat | Maharashtra |