Anil Ambani, the chairman of Reliance Infra, and its subsidiary Reliance Power, on Tuesday laid out ambitious plans for both the companies.
Addressing two back-to-back annual general meetings (AGM) of both companies, Ambani said the group not only plans to double its power capacity in the next 12 months, it also wants to double its cement capacity from the currently planned 10 million tonne per annum (mtpa) to 20 mtpa in five years.
Also, one of the ambitious projects the Mumbai Metro Rail Project will also be operational this year.
Ambani said during the AGM of RInfra that all its projects which are ready or on the verge of completion will be “revenue operational within fiscal 2014.”
It plans to double the current Reliance Power capacity to 5,000 mw in 12 months, Ambani said.
Most of this will be come from the company’s upcoming ultra-mega power project at Sasan in Madhya Pradesh.
In the last fiscal, Reliance Power commissioned one unit of 660 mw at Sasan, out of the proposed six units of similar capacity, taking the total capacity to 3,960 mw in the next two years.
According to its annual report, the current fiscal will see two new capacities coming on-stream and one more unit by next July.
Plus, a capacity of 300 mw will come up at its Butibori plant near Nagpur, 100 mw solar power plant in Rajasthan and a 45 mw of wind power in Maharashtra.
Analysts said while Reliance Power’s some units may come up, the drag will come when the company tries to build its power projects based on gas or imported coal, which is the next phase of its plans.
Its projects in Andhra Pradesh – the Krishnapatnam UMPP based on imported coal and gas-based project at Samalkot – are still hanging fire due to fuel supply issues.