NTPC plans to mop up $750 mn from overseas markets
New Delhi: Country's largest power producer NTPC, which expects to see additional generation capacity of over 4,100 MW in the current fiscal, on Friday said it plans to raise up to USD 750 million (about Rs 4,000 crore) through bonds issue and syndicated loans from overseas markets.
"We plan to raise USD 500 to 750 million through bonds issue, and if we are unable to raise up to USD 750 million through bonds issue we would raise USD 250 million through syndicated loans," NTPC CMD Arup Roy Choudhury told reporters here.
Choudhury said he was hopeful of raising the amount in the current financial year and was awaiting some clarification from the Finance Ministry related to withholding tax.
NTPC said it expects to see a capacity addition of 4,160 MW in the current financial year and out of that target, over 2,100 MW has already been installed.
Faced with coal shortages, the state-run major has generated nearly two billion units of electricity less so far this fiscal, Choudhury said.
However, he emphasised it would not have any impact on the company's financials.
Regarding government's plan to divest about 9.5 percent stake in the company, Choudhury said he has not heard anything on the same from the government.
However, he said that earlier NTPC had informed the Disinvestment Department that it was not right time to raise money from the stock market.
Responding to a query on whether it plans to issue fresh equity, he said the company does not need money for capacity expansion and funds have already been tied up.
In the current fiscal, the company would require about 164 million tonnes of coal if the plants are to run at 90 percent Plant Load Factor (PLF). During this period, it plans to import about 16 million tonnes of coal.
NTPC, which has an installed capacity of 39,174 MW, expects to see a capital expenditure of Rs 20,000 crore in 2012-13 period.
"Our capex for 12th plan period (2012-17) is Rs 2,19,000 crore," Choudhury said.
As on date, the company is constructing power projects having total capacity of 16,809 MW.