Tata Power Company is considering divesting part of its equity in Coastal
Gujarat Power, which is setting up the 4,000 Mw Mundra UMPP in order to finance
capacity additions of 5,660 MW.
The company has sourced around Rs.15,750 crore as debt and requires another
Rs.2,300 crore for equity by next year. For this, the company plans to divest
stake in Mundra, 1,050 MW Maithon power project and in Tata's telecom companies.
At present, the company is just mulling over this option and has reportedly not
taken a final decision.
The company announced financial closure of Mundra in April 2008. The
Rs.17,000 crore project is being financed through equity of Rs.4,250 crore,
external commercial borrowings of $1.8 billion (approx Rs.7,200 crore) and loans
of up to Rs.5,550 crore.
Also See:
Sasan, Mundra UMPP to be fully
commissioned by 2013 (27-May-08)
Related Links:
Project profile