Reliance Energy to invest Rs60,000 crore in power plants

Mumbai: Reliance Energy Ltd. expects to win contracts for building two mega power projects involving total investments of Rs40,000 crore, company chairman Anil Ambani said.

Speaking at the annual general meeting of the company in Mumbai, Reliance Energy chairman Anil Ambani said the company expects to win at least two ultra mega power projects, with a generation capacity of 4,000 MW each and an investment outlay of Rs40,000 crore.

He also said the company has emerged as the lowest bidder for 1,500 km of transmission lines to be completed by 2010 with an estimated cost of about Rs2,000 crore.

"We are the leading engineering, procurement and construction agency in the Indian power sector with an order book of Rs5,500 crore and this is expected to grow sharply on the back of bids during the year for new projects worth over Rs20,000 crore," Ambani said.

The group, he said, after getting necessary permissions, plans to invest Rs12,000 crore in 2,000 MW of nuclear power generation.

Reliance Energy Ltd., India''s second-biggest utility by sales, said it plans to spend $15 billion to contribute one-quarter of the nation''s additional generating capacity over the next five years.