Reliance Energy to foray into nuclear power generation

Jun 7, 2006, 20:46 GMT

Mumbai, June 7 (IANS) India's leading private sector integrated power utility company Reliance Energy Ltd (REL) is all set to foray into the nuclear energy sector.

The company Wednesday said it was pursuing power projects totalling 16,000 MW worth Rs.600 billion and plans a foray into nuclear energy.

Addressing the annual general meeting, REL chairman Anil Ambani told shareholders here that the company was interested in setting up a 2,000 MW nuclear power project.

'We are investing Rs.600 billion in various power projects in the country, which will include hydro, gas-fired and thermal power totalling 16,000 megawatts,' Ambani said.

'Reliance Energy is also interested to foray into nuclear power generation, as it has good experience in engineering and designing of nuclear power plants,' he said.

Reliance Energy, the flagship company of the Anil Dhirubhai Ambani Group, last week had proposed to form a joint venture with state-owned Nuclear Power Corporation of India Ltd.

Ambani said REL was in the fray for the government's plans to set up new power projects.

'We are interested in participating in the government's invitation of setting up five power projects, each of 4,000 MW capacity,' Ambani said.

REL is building a 5,600 MW power plant in Dadri in Uttar Pradesh, billed as the world's largest gas-fired power plant. It will have a total capacity of 7,480 MW.

Ambani said besides transmission, the company was also foraying into rural electrification.

'The company has won contract worth Rs.7.90 billion to electrify 17 districts in Uttar Pradesh,' he said.

© 2006 Indo-Asian News Service