NTPC seeks support of Rs 16,000 crore
By Praveen Chandran | 01 Dec 2001
This is in addition to the profit-making NTPC’s proposal for a grant of Rs 18,000 crore in the eventuality of it losing a case challenging the tariff order by the Central Electricity Regulatory Commission. “We have given a proposal to the Centre that NTPC will add 30,000 mw by 2012. But we have asked for a budgetary support worth Rs 16,000 crore from the government,” NTPC CMD C P Jain said on 30 November.
NTPC has identified seven projects that would add 10,420-mw capacity by 2012, Jain said. These projects would be commissioned during the 11th Five Year Plan. Asked about the source of additional funds required by the corporation, Jain said: “We are exploring various possibilities. We have also approached the Power Finance Corporation for raising additional resources.”
Jain, however, clarified that attainment of the 30,000-mw capacity addition at an investment of about Rs 1,20,000 crore would hinge on the outcome of the ongoing case in the Supreme Court and the Centre’s readiness to give budgetary support. NTPC’s proposals assume significance in the wake of the Centre’s increased emphasis on public investment following the failure of private investment coming to the desired levels.
The Centre is reviewing the proposal submitted by NTPC and a final decision is likely to be taken in this regard soon, Jain said. “What is more important for us is to see that all states adhere to the recommendations of the Ahluwalia Committee for clearing outstandings through one-time settlement and evolve mechanisms for future payments.”
NTPC has identified four projects, each adding 1,980 mw in Nabinagar in Bihar, Mangapore in Karnataka, Pipavav in Gujarat and Pratabpur in Uttar Pradesh. The corporation has also identified Simhadri-II, adding 1,000 mw and Chandrapur-Mauda in Maharashtra for another 1,000 mw, Jain said.
The corporation is also planning to add another 500-mw-power capacity by taking up hydel projects and is in talks with the Uttaranchal government in view of the great potential of the
state.
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