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THE ECONOMlC TtMES

9 1 N O V 2011

Wahabad Bank Freezes Power Loans ankof I,,-';- +,. ..,,-.,+ debt of state electricity boards; Dena Bank& IOB may follow suit m Power Tril

Board and Rajasthan Electricity is under stressbecauseof mount- Board will be r e s t r u m - the ing losses at state distribution tenor of the loans and interest companies and thwarted prQject p ~ b l e will be changed - to d-nX.%meproject,s,su*as avold an imminent default and East Coast Energy - m whlch

IRBUREAU flrewall banks from rising bad Goldman Sachs and General At- 1MBAl loans, senior bankofficfalssaid. lantic are shkehdders, me stuck nancial stress to banks caused "We have received requests half waybecauseof localprotests. .the power industry i n d from one or two state electricity Subsidised tariffs have p e e d ithBank of Indiasettoreslruc- boards and we are looking into power distribution companies to re a quarter of its power loans it," saidBankof India Executive the brink of collapse with losses ~d Allahabad Bank freezing Director BA Prabhakax Bol has soaringlastfiscalby4SK toanes nding to the seetor whipsawed lent 78,000 crore to various state timated74O,O@lcrore. ~ 1 ~ a t ~ d M r i b u t o r s a n d boardC"Wehaveyetnotmirue AUah$b@OBnkwhicbhaslmi udles tonew plants. W N o o t i e ha$ilMaBt&iyet." &re & tl3,W cmre to utili- mstoTamilNadtiElq@icity The countrys +cial system tiesanddistributors,hasstopped

lending to thesector "In the pas( six months, we have pot sanc tioned a single fresh loan. Till things are clearer ... we don't wanttogo into thisarea," Waha badBankCMDJPDuasaid. DenaBankandIndianOvamea!

Bank are also considering to res V U C ~ loans to the power sec, tor Punjab National Bank re& truchmd r2.W crow of loans y

Beliance Power Posts f 235-crore Net in 02 OURIUIEAU

Sets. "The projects under conslrudion

MUMBAI are Progressing satisfactorily and we are well en track to becoming a 6 , m

m t i n g costs and higher interest MW operating company by 2012,'' Cha- burden weighed on Reliance Power's W a d . consolidated netpmflt which remained The company aims to commission the Oat at 1% m r e in the second quarter third unit of 300 MW at its Rosa Power of 2011-12 despite a 46.5% year.on-year Plant in Unar PFadesh neat month. Its

7289 mre Yn the quarter cmre.dentingthec~mpan$&~~~ "Our tbel cost has been high beeawe

our generationhas goneupsubstantial- lx its has doubled ona -n.vear ba-

2.400 MW SamaJkot Power P h t would be ready for wmmhsion- ingbyDecember Chala- sani said that the com- pany IS hopeful that government wouldallo- CategastotheSamalkot Power Plamt in time for its commercial oper- atinnri - - - .- - - . --

Also, we are now biendingour coal The power generator, wlthimwrtedWintheratioof 60:40," which has been facing fie1 related is- Chid ExeeutWe Otncer JP Chalasani sues in the cod and gas based projects toldrewrters. that it is develoninn is lookinn i t PY. ~~- - ~~- ---. - - - - - -. -.. Reliance Power, which has an owr- Pandlngllsrenewableenergy toreduce

ationalcapacityof 600MWWaimstohave risks. company aims at investing aeapacityofS,WOMWb~2012.TheAnil 711.000 mre in the newt around thm Dhirubhai~maani~mupcoldpanyisa yeais to set up SWMW of solar and400 powerdeveloperandownsc#lmine8& MWofwindenergycapaci@!

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THE TR JRPFTE

~t.baimaidfompriseiwo &nits of 0.6-MW is being

-lbF'PAwassipdattb Pnriala hea&wm

Vama. on behalf of the

PSPnaadKacaaAggmal, rb!h&d signatory on bkhalf of rhe Sam India aydm Power Rivate Lkdted, Delhi. ':'m projw is heiog set b at an estimated cost of h 13 c r w and will genet- ate employment in the area 1 und faaptate hamessing of clean and renewable erm- gy. The project will be com- missioned m December 2012." said PSPCL CAairmmum-Managmg Director KD Chaudhri.

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THE Anil Ambani-led Re- Uance Powefs net p M t mse

grew 47 per cent to 750.6 mreaeainstt512mre.

~ h < m p a n y in anearn- lngs statement said itsRosa

I plant in UttarPradcshun- tributed significantly to overall income. The nlant

I operated at a load facior of 77 per cent by generating

1 1.030 million units mUs)of

I power compared to 530 MUs in th'e corresponding quarter last year. .

Net profit for the plant stood at V S cmre from 722 crore. The Reliance Power stock on the National Stock Exchange dosed at 7lM.60.

I . The company today in- ' d~cated it would he in a w- 1 sition to commission fsur

with total genera- tion capacity ofS.000 Mw by December 2012.

These nroiects include Rosa 11, h t i6or i in Maha- rashtra, Samalkot in A n h Pradesh and Swan in Mad-

: hyapradesh. : J P Chalasani. chief ex-

ecutive officer; said the Sasan coal mine is expect- ed to begin pmduc&nm

Xotember . ahead of the firit unit of the Sasan ultra mega power pmject in De- cember 2012. The mine

I would ramp up coal pro- duction to peak 20 million , tonnes by 2014.15.

Cbalsani said "Our Rosa ! plant continues to be sta-

ble, recosfirming our ' strong operational capa-

bilities. Also, our under- : construction projects are 1 progressing satisfactorily

and we are well on track to become a 5,000 Mw com-

I pany by 2012." He said the company has

tied up loans of 18,000 with EXIM Bank to finance its

9 1 NOV 2011

I A

NTPC TO INVITE GLOBAL BIDS

global t e n d e r i ~ &re the &mcts by the end ofthe ISllwolmn

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THE FIF!I\Y?!/r,l EXPRF-

9 / N O V 2011

'NTPC to invite bidsfor coal imports soon To meetthe rlsing fuel demand.thecountry'! lug& pmver producer NTPC plansto seek bids In next two tothree months for long-

a tennsupply of Imported ma1 of up to 20 mlllion tonnes per annum.We wlllseek bids forsupply of Imported coalforapulod of 14 20years.The amount wlll beupto20allion tonnes per year," NTPC CMD ANP Roy Choudhurysaidonlesday.Accordingto Choudhury.NTPCneedstoseeurlties lmpwtedcoal,whlchanomtsfor about 10% of themoanv'stol requirements. A

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m V@&F;tBM EXW$'

9 1 NOV 2011

/-

Tatas, PGCIL tradechasges I I on Mundra UMPP delay

nUrUolunmd However, the PowerGrH NmoelUNovLl &cia1 ElarlRed that there

vest fn?m theban-

the transmIs8lon line four.

portad delay in mumisdon- &of U1BlaWsMmdmt& t p a m e s s p w r e r ~ e c f wmrno-t

PaaerGrid says it has $ompktd the install@ion bf aswlated Wsanission lineasanrd-thst

, It d n & beMd rewmsi- ble forthedelay in commis- sioning of the generation POClLCOMPLETLDTHEfRANSM#SSKMl ,, mw ,, ,, -.wt m p i v LW ON SEPTEMBER 28 BUT TATA POWER cbimges in its eoal pricing wadper mawdm that it SAYS IT WILLTAKE ANOTHER FOUR metho&kgwhichherren- hsatoriasorttoar@uea@n MONTHS TO COMMISSION THE FIRST dered theMundm UMPp e "chemi**t"Bhr'be UNITOFTHE MUNDRAULTRA MEGA l w m e k i w ~ t f o n f a r pmm-wion of the in- Tats-. e v r q u i p m e n t i n POWER PROJECT WHICH HAD BECOME ~ p ~ o P t h e U l u I P P ~ w W d t i n g c o m ~ ~ READY FOROPERATIONS IN MAY ~ a l s o w r i l t a n t o t t r e ~ Uon d the transmission e r ~ t r y t o m l ~ a m e e h ~

a a i s m i n ~ m p o i t h I.

months to mmmlsslon the BrstItnltd t h @ M r n d I a ~ Jeetwhichhadbeconte ready for operations as far

--

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THE F!F?4*dtl4L EXPREF

9 1 N O V 2011

4

&power posts net profit ofL-.-; - L - . .

Z235.48 cr - I-

i Fuel prices dent net as expenses rise to ~ 9 7 c r I f o r e x losses & project delays I A HIGHERotherincome

of 1188 ore from its noncom investnients

helped RelLance power post 7235mrenetpmfitfortbefls- caI semnd quarter as many power plants the company is building are in different ' stages of execution. It report- ed tp4 .7mmin themepe ridprevious year.

Analysts reoommend IP vestom to stay away from the stock'ThereisnothIngtotmck inthisrerulf" inves~entwhd- sor SP Tulsian said "All pm lects am under execution and halfthelnmmecomeshmcat egories like 'other income' in. dudinsinterest"

'Wuid," is Tulsian's momm mendatlon on the company's stoekt0investors"If youcom- pare with its other peers We Adani power or JSW En-, Reliance Power has bean admcapacltyeveryqm." Accodngto him.nothiughas mmmencedtillnow.."

ThewmmWs total income during the&&. howewc in- creased by nearly -fold to

~umbaf, NOV 8: Despite ro- bustoperatinginmme.thesec- ond anarter consolidated net pmIli of Reliance .J&astruc- ture(lUnfra)remainedtlatdue to foreign exchange losses of tslmre, initla1 IosseamDeLhi Metlopmjectanddelayinoth- er infra&um projects aefiievlaa break even. The net plont 6 the q M e r ended September 30 was 1362 m r e & t w u w e i n t h e y e a r agoperiod.

Income Boa operati0115 of the company rose by 40% to 15.549 mre against 73,967 z i r e l a s t y e a r o n ~ e r r e v - ?nues &om E X and huh.

struction PmJects are W on and 40% do~pestic, that added While revenues Rum engi- traclcandit wlllachieveitsm. tothecost"On'hesday,shaw neering, pmurement, and getofbeco~a5M0mwmm ofReliancePDwerm3,52% to cmmctlonorEPC hctwsed ~ a n v by 2012." JP Chalasanl. close at tlG2BO on Bombw to7ZWcrore&t712last

dentedp~onts.&itmse nearly operatedataplantloadfactorof againsttl3awe. three fold to rn oore 6wn 7;*/.,ameasureoftheoutputof Thetotalhmmedthecom- W.7aoreandhikeditstotakx. awwer ~ l a n t commnd to the mi inmead by 144% to pmdlhm m 13% c m n 3s n&m- output it could pm ?5,R9mre in the quarter un- agdm tln c+ore in the same dumTheplant generated 1.W der review h m 7 3 s cmre ~eponine~eriodlast~em milUonunits~,twlce,itpro- lastyear "Fuelcostincreaselsonac- ducailnthesameperiodp~~~I. Thecompanyisdeveloping

count of increase in genera. ousyeacThenetpm5thmthe 121Dadpmjectsof~mundl.WO tion," Chalasani said. "Also, plantmmorethanthree-fold lrmwrth~l6,16,500cmre.Ofthis,

tional and additional six m d projects would start generat- ingrevenuein Wla

Revenues EumDelhiMefm prolecta~erealsoupwiththein- crease in n u m b of dally commuters to l8,WJD passen- gemona~basisBom12,WX) in m quarter. Retail and ad- vertisii also,bi-m a part of Rln&a'searningsinmmpm ject 0ntheretailside.themm- pany has 15 lakh so Aof space esuallv spregd Mwwn * stations in Connaught Place and NewDelhi metro staiio

book position of ~z,wo cm

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THE FINANCIAL EXPREE'

9 1 N O V 2010

k a l looks for power buyers

I 1 ready to pay higher prices New Delhi. Nov 8: Theshort-

dla, which is &versifying into the downstravn power sector. tn tweak its growth strategy for rhe next decade and Inten-

tor with &stly imir ted gas, itseonsolidation in thesector willhave towait till thewmpa- ny strikesgasinanyoFits57 hvdmcarbon blofks.

Gail will now look for con- sumers like factories and state utilities that are wUUm ti buy power at unregulatki prices, which is essential for the new businessconsidering the nonavailabUIty of gas at administered price for fmsh m p r o l e c a

Gail CMoBC'Prinathi311id that imported liqu& natur. al gas (LNC) now wsts about a6 oer million Britlsh ther. &itnit 'Uhenasltedaboutits imnact on Gallkentry into the po&rseetor,Tripathi t o l d ~ ~ . 'The shortage (of domestic pas) and the high import cost

rearrascfconcern.Wewill fait for a major gas strike in urblocks" The government has al-

dycutdavngas~~ppliesto moss like petrochemicals nd steelso that existing units

in eore seetors like power and Myanmar early nextyeac WserseetUleircMIkacted Gail's road mao far eas suppjies.T?lere is no gas at ad- based power g e k t i o n -in. ministered prices for setting volves s e t t i i un a 220 mega up newpowirwts. watt(mw)unitf&?880ct&at

Expmding Into the down. UsarnearMumhai.whemital- sheamwwerseetor-bothpas- readv has a LPG unit. Gail is ba~ed&we~iismnvmti& nowin thepmcesscf seeking wind sdar. shale and coal wi- customers for the power to be fi& sekents - is Gmrr ner stone of Gail's wmTh plan

aturn-ofiilakh&mb; 201617. But gas sbr!am wuld give C~II a s k g bias towards upstream expimaon than to

~bemmpany, hatn now sup p h s gas to half of the coun- PY'S mbased power plants, has already got a producing hloek in theCambav basinand

&!enemtedhm he&. The mmpany has also

sigaedadealwith theUttaw- ehalgovernmentforsettingup two gas-based Wd mw each planti at Haridwar and Ka- shipur The projects, which would be fluxled through 70% debt and the remaining with equity,hasatotalmstof about i im cmre. Besides. it is dhyingthefeasibility of a330 mw plant at Vilaiwo: and an-

is expecting to st& pnaduc. o& 3% m r &At at Pata tion &om its two blooks in MadhyaFradesh.

Y -

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THE INDIAN EXPRESS

9 / N O V 2011

H R-Power net rises marginally NS ECONOMIC BUR&AU M U M W NOVEMBER8

NlL Ambani-M Reliance THE FIRM'S

WI'S net profit increased net pmtit.forthe ~arginaUy for the second q ~ ~ e ~ ' ~ b d mte~ ofthe Qycial y afits.ptojects B:. B.235 crop against iL.m h a t i o n . : hi, Am&#f "7 ' 3 " asw: :,&&libe

Reliance power's net Chairman, same per k od list year

ofit for the quarter stood at Q2 r e s u l t s m d on the rose to Rs 289 awe from R sZJS~meagainstRs234.7 BSE on lbesday. JP Cha- 99.7cmrc~dhkthcana ore in the same period a Insan& cpef exccutivc, pany's total expenditure e !arago.'lheampmfstotal RPowcr said thecompany's Rs 397mre against Rs 17 lwmc during the period, u n d e r - c o ~ o n projects aore a year ago. "Fuel ws -I, i n w e d by ncarh, arc well on me4 add ii uiu inme& a on iay)unt of in uectimcs toRs487cronw achieve its target of becorn- crease in generation." sail pinst Rs 169 more in the ing a 5.W megawatt corn- ~ T . ~ , ~ 6 0 p e ~meauartrrlastvear. w v b v 2012 However. fuel cent of coal is imwrtcd ant

It &o show& Rs 188 &im;paacd the pro6tabil- 40 per cent domatic, tha rue as'othcr income' in its icy, as during the quarter it addcdto thceost," he 9

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HINDUSTAN TIMES

g I EIOV 2011

1 Yklds on I I bonds reach I two-year high as project stalls

bid,., "I...' wld R.h.. M & . M bud d hd - . ,D.L*.wL*b*L

ths h. *w pm*. b. uld lh yldd on ths utoml.

ZaI* bod h., CUmM Y b.. d.pl.1..hu.tmmmlonll

~ t , ~ ~ I I a n o o , . f . fd,olbmdonlur'udar.n. .w .y d ndrutl baa" It @ore tb. pbik & "Id C Ud.y dl- * N" D.1bl.bo.d N l W Mum. v-&son. . n. reurh - D m l l l t ~ OD 2 N-. VJhU. ddw II~In..lub*,tu.~ rtbmmeu,,l.b.(lnolqd. cDlrrrI I .ndaon10 ,

%'EEm - .a. p &&: ~ , I n ~ U d . .

rl ls buuor., m 1.. e u v l b l c o ~ " . Ilurq.*cc.Ib.m~" a. UO" to ih.R.l- ry.d- q. n e n.0.'. dad, d the h d r W w ( 6 m l l X I n l r r u ..dln.ldwbm1zmLUdi-

MINT

9 / N O V 2011