NTPC is planning to invest a massive Rs2,25,000 crore in the next seven years to expand its capacity to 75,000MW from 30,000MW
India's largest power company NTPC Ltd plans to invest a massive Rs2,25,000 crore in the next seven years in capacity expansion to become a 75,000MW entity, the company's chairman and managing director RS Sharma said on Tuesday.
NTPC, which has a production capacity of a little over 30,000MW annually, constitutes 19% of the country's total installed capacity of 1.55 lakh MW.
For the additional capacity generation, NTPC is planning about 9,000MW through hydroelectric sources, 2,000MW through nuclear and 1,000MW through renewable energy resources by 2017. This would make NTPC one of the most diversified companies in the country in terms of fuel usage.
Asked about the source of funding, Mr Sharma said that all projects would be funded in a debt-equity ratio of 70:30. For the equity portion, the State-run company has comfortable cash flows. "If required we may tap the domestic as well the global debt market," Mr Sharma told PTI.
To increase its capacity, the company has prepared a multi-pronged strategy which envisages additional power generation through green-field projects, brown-field expansions, joint ventures and acquisitions.
NTPC will hit the capital market with its follow-on public offer on 3rd February to raise up to Rs11,000 crore as part of the government's disinvestment plan in leading State-run companies.
The Indian government is offloading 5% of its stake in NTPC through a follow-on public offer of 41.23 crore shares of Rs10 at prices to be determined through an alternative book-building process.
ICICI Lombard is offering its customers add-on covers like zero depreciation add-on and consumable items add-on, for motor insurance
India’s largest private sector general insurance company ICICI Lombard General Insurance Co Ltd is offering customers unique add-on covers like zero depreciation add-on and consumable items add-on, for motor insurance.
“Motor insurance is the largest product category contributing almost more than 50% of ICICI Lombard’s gross retail premiums. Add-on covers like zero depreciation and consumable items are designed such that a customer paying full premium, gets a full claim too,” said Ajay Shah, head for customer service—motor, ICICI Lombard.
Through zero depreciation add-on, customers can limit their liability towards depreciation in case of an accident claim that might result in partial loss or damage to the insured vehicle, the company said, adding that customers would benefit from this add-on as they do not have to bear any cost of depreciation, which otherwise gets reduced from the claim amount at the point of claim settlement.
All customers have to do to enjoy complete cashless service at network garages, is to quote their policy details and they can get their vehicles repaired, ICICI Lombard said in a release.
The consumable items add-on covers unique coverage of consumable items like nuts and bolts, screws, washers, grease, lubricants, clips, air-conditioner gas, bearings, distilled water, engine oil, oil filters, fuel filters, and brake oil, it added.