Corporate power sector investments top Rs195,000 crore in H1 2008: Assocham

25 August 2008

Mumbai: Corporate investment's in the country's power sector topped Rs195,000 crore in the first half of the year, about a third of all corporate investments in this period, according to a report published by the Associated Chambers of Commerce and Industry of India (Assocham).

Out of Rs6,33,906 crore of total corporate investments proposed in the first six months of calendar 2008, power sector attracted the maximum number of investment announcements totaling Rs1,95,913 crore, says the Assocham study.

Power sector attracted 30.09 per cent of the total corporate investments during the first six months of 2008, the Assocham report said.

Much investments flowed into realty, steel, retail and telecom, which together saw capital expenditure plans worth Rs633,000 crore during the six-month period, the report said.

''With power sector on the top of priority of the policy makers, huge investments have been planned by various corporates, which include Tata Power, Sterlite Industries, Jindal India Thermal Power and the Lanco Group," said Sajjan Jindal, president of Assocham.

The realty sector ranked second, attracting Rs151,000 crore for the next two to five years. ''Rising income levels and growing middle class have generated massive demand in the realty sector in the recent past," the Assocham report said.