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Reliance to invest Rs 40 B in Delhi power companies
Friday, 04 July 2003, 19:30 IST
NEW DELHI: The Reliance group plans to invest up to 
40 billion over the next few years in two Delhi-based companies promoted by it to improve the power distribution network in the national capital, a senior company official said here Thursday.
The investments would be made in Yamuna Power and Rajdhani Power, floated last year by BSES, in which the Reliance group has a majority stake, chief executive Himadri Banerjee said.
Banerjee, who was speaking at a meeting organised by the Confederation of Indian Industry to discuss the power scenario in Delhi, said up to 8-9 billion would be invested in the two companies every year for the next two to three years.
The investments would begin as soon as the government released money from the Accelerated Power Development and Reforms Programme to aid restructuring of the power sector.
Banerjee said up to 6 billion would be received by the companies as their share from reforms initiated by the Delhi government to privatise the power distribution sector. He did not say how Reliance planned to raise the balance.
The Delhi government had two years unbundled Delhi Vidyut Board, the state-owned power utility, into three power distribution companies, a generation company, a transmission company and a separate entity to take over the liabilities of the erstwhile state electricity board.
Source: IANS
40 billion over the next few years in two Delhi-based companies promoted by it to improve the power distribution network in the national capital, a senior company official said here Thursday.
The investments would be made in Yamuna Power and Rajdhani Power, floated last year by BSES, in which the Reliance group has a majority stake, chief executive Himadri Banerjee said.
Banerjee, who was speaking at a meeting organised by the Confederation of Indian Industry to discuss the power scenario in Delhi, said up to 8-9 billion would be invested in the two companies every year for the next two to three years.
The investments would begin as soon as the government released money from the Accelerated Power Development and Reforms Programme to aid restructuring of the power sector.
Banerjee said up to 6 billion would be received by the companies as their share from reforms initiated by the Delhi government to privatise the power distribution sector. He did not say how Reliance planned to raise the balance.
The Delhi government had two years unbundled Delhi Vidyut Board, the state-owned power utility, into three power distribution companies, a generation company, a transmission company and a separate entity to take over the liabilities of the erstwhile state electricity board.
Source: IANS