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NHPC to invest Rs 28,000 crore, to add 5,300MW

NHPC to invest Rs 28,000 crore, to add 5,300MW
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First Published: Mon, Jul 28 2008. 04 28 PM IST
Updated: Mon, Jul 28 2008. 04 28 PM IST
PTI
New Delhi: State-run NHPC Ltd plans to invest Rs28,000 crore in the 11th Five Year Plan (2007-12) for adding 5,300MW of power generation capacity.
The company plans to raise Rs11,000 crore through its initial public offering (IPO) and the remaining Rs17,000 crore via internal accruals.
The board members of the company would meet on 5 August. NHPC has been planning to hit the market for a long time but the process got delayed due to the lack of six non-official directors on its board, a condition mandatory for a company to go public.
It plans to file a revised draft red herring prospectus with market regulator Sebi next month and is most likely to hit the market in September, NHPC chairman and managing director, S.K. Garg indicated
NHPC plans to pump in another Rs35,000 crore after 2012, further expansion, Garg said. At present, the comoany is implementing the 2,000 MW Subansiri Lower Project in Arunachal Pradesh, the country’s largest hydroelectric project.
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First Published: Mon, Jul 28 2008. 04 28 PM IST
More Topics: NHPC | Power | IPO | Sebi | Hydroelectric |