Reliance Power has invested ₹500 billion, says Anil Ambani - company will soon have 6,000 MW operational capacity
Reliance Power Ltd (RPower) has invested ₹50,000 crore in its first growth phase, said Chairman Anil Ambani. He was addressing the annual general meeting of RPower here on Tuesday. Ambani said about 6,000 MW would be operational at the end of this phase, which was nearing completion. The full benefits of this phase would be realised from the next financial year. The company was conservatively financed and its debt to equity ratio was one of the lowest in the sector. Further, a net worth of ₹20,000 crore offers a strong platform to finance future growth. The pillars of near-term growth are clean and green power projects, he said.
At the Reliance Infrastructure (RInfra) AGM, Ambani said the company would triple its cement production capacity from the existing 5 million tonnes (mt) a year to 15 mt in the next three years. Plans were on to build plants in Maharashtra and Madhya Pradesh. RInfra foresaw a huge growth in cement consumption on the back of infrastructure investments and concretising of roads. Ambani also felt the development of smart cities by the Government offers great potential for R-Infra. He said all large projects of R-Infra are nearing completion, and the company is confident of seeing a strong reverse cash flow in the near future.