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BSES to invest Rs 3,000-4,000 crore in New Delhi
July 03, 2003 16:55 IST
The Reliance group-promoted BSES Yamuna Power and Rajdhani Power plan to invest as much as Rs 4,000 crore (Rs 40 billion) over the next few years to improve the power distribution activities in New Delhi.
The two distribution companies, which were taken over by BSES last July, would invest between Rs 3,000-4,000 crore (Rs 30-40 billion) over the next two to three years towards improving the distribution facilities in New Delhi, Himadri Banerjee, chief executive, BSES, said at a conference organised by the Confederation of Indian Industry to take stock of the power scenario in Delhi.
Banerjee said the company plans to invest close to Rs 800-900 crore (Rs 8-9 billion) annually towards this end.
He said the deployment of funds would start as soon as the government releases money from the accelerated power development and reforms programme set up to aid restructuring of the power sector.
As much as Rs 600 crore (Rs 6 billion) is expected to accrue to the company as its share due from the state government on account of reforms, which the latter had initiated last year by privatising the distribution business.
Asked how the company proposes to raise the balance, Banerjee evaded a reply merely saying that the company was debt free.
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