Divestment of KPCL to fund projects

 
Addressing reporters here on Thursday, KPCL Managing Director S M Jaamdar said the Corporation has set a target to mobilise Rs 8,200 crore for equity participation in new projects worth Rs 40,000 crore in the next five years. Some of the proposed projects are: Yermarus and Yedlapura in Raichur, III unit of Bellary thermal power stations, Bidadi gas-based power plant and Chhattisgarh plant.

“We want to generate additional 8,500 MW of power by this investment. The government is considering divestment to raise the money.  The divestment will be between 15 to 25 per cent, but nothing has been finalised yet,” he added. Out of the Rs 8,200 crore, the State Government has already given Rs 1,500 crore towards equity and has promised another Rs 1,000 crore in the next two years. The KPCL is planning to invest nearly Rs 1,500 crore from its profits. It has been planned to mobilise the balance through divestment, he explained.

The SBI Capital, which has been authorised to advise the Government in this regard, has submitted a preliminary report. It would take another three to four months for the proposal to take a concrete shape, he added.

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