RPower commissions another 300-MW unit at Rosa

Reliance Power expects to have a total installed capacity of 5,000 MW by December, 2012

Anil Ambani group firm Reliance Power today said it has commissioned another 300-MW unit under its Rosa project in Uttar Pradesh, taking the company's total capacity to 900 MW.

Reliance Power expects to have a total installed capacity of 5,000 MW by December, 2012, including thermal, gas and renewable energy. This would include the first 660-MW unit of the Sasan Ultra Mega Power Project, which would be commissioned by December next year, company CEO J P Chalasani said.

At present, 900 MW of the 1,200-MW Rosa project has been commissioned.
"The remaining 300 MW of the Rosa project is expected to be commissioned in March, 2012, which would be ahead of schedule," Chalasani told reporters here.
With an investment outlay of over Rs6,000 crore, the Rosa project is the largest private sector investment in Uttar Pradesh, Reliance Power said.

Once fully commissioned, electricity generated from the Rosa plant would meet about 15% of Uttar Pradesh's power requirement.

The company would have 5,000 MW of capacity installed by December, 2012, said Chalasani.

Among this would be the first unit of the 2x300 MW Butibori project in Maharashtra, which would come up in March, 012. In the next quarter, the turbines for the 2,400-MW Samalkot project in Andhra Pradesh would be ready, he noted.

"The 1,200-MW Rosa project will also add to the central government's 11th Plan (2007-12) target for capacity addition and will set the foundation for the next phase of growth for Reliance Power," the company said in a statement.

When asked whether more units would be added at the Rosa plant, Chalasani said, "There is a possibility of extending this (the project)..."
The main plant equipment has been supplied by China's Shanghai Electric.
He pointed out that the company has the necessary security mechanism, including a Letter of Credit (LC), with the Uttar Pradesh electricity utility in case there are payment issues.

"At this stage, there is no cause of concern (in terms of getting payment for power sold to Utttar Pradesh," Chalasani said in response to a query on whether there has been any delay in payment by the state. Uttar Pradesh Power Corporation is among the discoms that are in a difficult financial position.
In the late afternoon, RPower was trading at around Rs72 per share on the Bombay Stock Exchange.


Bharati Shipyard approves Rs2,854-cr CDR plan

Bharati Shipyard has Rs6,800 crore order book which would be executed by 2014

Bharati Shipyard said its board has approved a Rs2,854-crore corporate debt restructuring (CDR) programme as part of efforts to optimise costs.

"The debt restructuring will help us to optimise costs and resources in the time to come," company managing director PC Kapoor said in a statement.

Bharati Shipyard's total debt currently stands at Rs3,250 crore. The restructuring pertains to "term/working capital debt". The company, which is in advanced stages of completion of its two greenfield shipyards at Dabhol and Mangalore, said it has Rs6,800 crore order book which would be executed by 2014.
"Majority of our orders come from the European markets, which is currently facing challenging times. However, we are in the process of delivering five vessels in the next six months," Kapoor said.

He said the company would undertake various initiatives to optimise the current resources in view of the overall sectoral slowdown and the challenging economic scenario.

"The overall shipping industry in India is under tremendous pressures. However, Bharati Shipyard is confident of its business model and successfully weathering the current business challenges," he said.

In the afternoon, Bharati Shipyard was trading at around Rs73 per share on the Bombay Stock Exchange, 1.17% up from the previous close.


Goodwill Hospital to raise Rs62 crore through IPO

Goodwill Hospital’s issue opens on December 30 and closes on January 9

Goodwill Hospital and Research Centre Ltd, engaged in running a multi-speciality hospital at Noida, has fixed price band of Rs175 to Rs185 for its proposed public offer.

The company is entering the capital market with its initial public offer (IPO) of equity share of face value Rs10 each at a premium aggregating to Rs62 crore along with one detachable warrant per equity share offered. The proposed issue is being made through a 100% book building process, a company statement said here. The issue opens on December 30 and closes on January 9.

The company intends to use issue proceeds for setting up of diagnostic centre at Faridabad with an outlay of Rs16.22 crore, establishment of six polyclinics at a cost of Rs33.97 crore and repayment of loans of Rs10 crore.

Goodwill Hospital is running a multi-speciality hospital at Noida under the name 'Ojjus Medicare', with a focus on core areas such as neurology and neuro surgery, cardiology and cardiac surgery and orthopaedics with emphasis on joint replacements and sports injuries. The company also plans to set up a wellness and cosmetology centre at Gurgaon offering solutions for wellness and aesthetics under one roof, the release said.


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