The country’s largest power producer National Thermal Power Corporation (NTPC) is looking tap foreign markets to raise as much as $500 million through dollar denominated bonds. The proceeds are to be used to fund its plan to add 5,000 mw capacity next fiscal. It is also planning to raise funds through tax-free bonds in the country.
On the hand, the company is discussing the plans with the investment bankers and will unveil the final details in the coming weeks. The company has big plans for its coal and gas based power plants and is also trying to acquire coal assets abroad.
Recenlty, it has commissioned unit 6 of 500 MW of Farakka Super Thermal Power Station. Following the commissioning, the total capacity of the company has become 33,694 MW. With the coming of unit 6, the total installed capacity of Farakka Super Thermal Power Station has become 2,100 MW. Recently, the company had started Stage-III commercial operation at Unit-VII of 500 MW of Korba Super Thermal Power Project with effect from March 21, 2011.
NTPC posted a marginal increase of 0.27% in its net profit of Rs 2371.48 crore for the quarter ended December 31, 2010 as compared to Rs 2364.98 crore for the quarter ended December 31, 2009. Its total income has increased from Rs 11961.31 crore for the quarter ended December 31, 2009 to Rs 14165.90 crore for the quarter ended December 31, 2010
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