NPCIL to raise Rs 3,000 cr for early completion of plants

State-run Nuclear Power Corporation of India (NPCIL) plans to raise about Rs 3,000 crore this fiscal for early completion of its plants in Tamil Nadu, Karnataka and Rajasthan, a company executive said here.

"Our requirement for FY10 is about Rs 3,000 crore. This is debt portion and will be raised mostly from PSU banks," NPCIL Director (Finance) J K Ghai told reporters on the sidelines of a FICCI conference here.

He said majority of these funds would be expended in bringing onstream two 1,000 Mw units at its Kudankulam plant in Tamil Nadu and two 220 Mw units each at Kaiga in Karnataka and in Rajasthan.

"The nuclear power project at Kudankulam is almost at the stage of completion. The tariff (of the electricity generated) will be less than 2.50 paise," NPCIL Chairman and Managing Director S K Jain said.

He said NPCIL had generated about 4,000-4,500 units of power in the last financial year, the average tariff for which was 2.33 paise.

The state-run utility has a surplus of Rs 12,000 crore, including cash reserves, Jain said.

He said the company has enough cash reserves for the next 2-3 years.