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April 2, 2001
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Money > Business Headlines > Report April 2, 2001 |
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Tata Power scripts Rs 9.35 billion capex planS Ravindran Power major Tata Power has chalked out a capital expenditure (capex) programme of Rs 9.35 billion for 2001-2002. The company's board, which met on Thursday cleared the plan. The plan reflects Tata Power's metamorphosis from a pure power company to a new economy communications firm, as well. Tata group sources said that the plans would be funded by a combination of internal accruals and debt. The company plans to invest Rs 2 billion in the power business, Rs 4.75 billion in the captive power plant (CPP) business and Rs 2.60 billion in the communications business. The power business will be funded entirely via internal accruals, while the other two businesses will be funded only to the extent of 30 per cent by the internal accruals. The remaining 70 per cent for both these businesses will be funded entirely through debt. Tata Power holds the licence for power supply in Bombay. The company also operates hydro power plants. "We are planning various measures on the hydro side, such as upgradation and addition of various equipment such as switchgears and transformers. All this is done to ensure quality and uninterrupted power supply to our consumers," a senior Tata Power executive said. On the captive power front, the company has plans to add another 240 mw to its 67.5 mw Jojobera power plant in Bihar, which it purchased from Tata Steel. It may also double the capacity of the 37.5 mw Wadi power plant and pump in Rs 200-300 million in the 81 mw power plant at Belgaum, both in Karnataka. Tata Power has a right of way for 1200 km of optic fibre network in Bombay and has wired at least 400 km. The company will be playing a major role in the Tata group's broadband plans. Tata Power is planning a nationwide expansion in broadband services in 3-5 years. It will bid for right of way in partnership with other companies. It is also planning alliances with content providers and last-mile partners. The firm, emerging as an integrated energy company, is planning to set up an LNG terminal in alliance with Totalfina, France, and the Gas Authority of India.
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