Reliance Power, a subsidiary of Reliance Energy (REL), was awarded a letter of intent for the 4,000 MW imported-coal based ultra mega power project at Krishnapatnam Andhra Pradesh.
This UMPP in Andhra Pradesh will have an estimated capital outlay of Rs 200 billion.
The company already has bagged 4,000 MW domestic-coal based UMPP at Sasan, Madhya Pradesh, involving an estimated capital outlay of about Rs 180 billion.
Reliance Power`s estimated capital outlay for these two projects alone aggregates approximately Rs 400 billion. In addition, Reliance Energy and its group companies are implementing several large infrastructure development projects, in the areas of metro railways, roads and real estate.
The board of Reliance Energy will meet on Dec. 02, 2007 to consider proposals for raising resources by way of preferential allotment of equity related securities / long term debt / other financial instruments.
The capital raised will be deployed for financing the large number of mega infrastructure projects that are being implemented by the REL group and also on several other projects in the pipeline.
Shares of the company gained Rs 74.4, or 4.47% to settle at Rs 1,738.10. The total volume of shares traded was 1,264,954 at the BSE. (Friday)
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