REL to invest Rs 60,000 cr to add 16,000 MW

MUMBAI: Reliance Energy, the flagship company of Anil Dhirubhai Ambani Group, on Wednesday said it was pursuing generation projects aggregating to a total capacity of 16,000 MW with a projected investment of Rs 60,000 crore.

Addressing the Annual General Meeting of REL, Anil Ambani said the company had initiated the process of awarding contract for Phase-I of the 5,600 MW project at Dadri in Uttar Pradesh. The total project capacity is 7,480 MW.

For the proposed 4,000 MW power plant in Maharashtra, Ambani said: "We are in the process of acquiring land. We expect to receive all the required clearances for the project shortly."

The net profit of the over Rs 4,600 crore REL stood at Rs 650 crore during 2005-06, he said, adding that "the Reliance Anil Dhirubhai Ambani Group (RADG) now has the unique distiction of having over eight million shareholders, the largest for any group anywhere in the world".

REL is also pursuing EPC contract aggressively and the segment accounted for nearly 18 per cent of company's total turnover. "Last year, Reliance Energy was awarded rural electrification work, worth Rs 790 crore, in 17 districts of Uttar Pradesh. A substantial portion of this work has already been completed," he added.

Ambani also informed about its foray into hydel power generation, besides entry into power transmission and rural electrification.