31 May 2002 – Tata Power Company has planned a capital expenditure of Rs 4bn ($81.8m) for this fiscal for its core business of generation, distribution and transmission of power, according to managing director Adi Engineer.
“We have earmarked Rs 4bn for our current foreseeable projects, both greenfield and brownfield”, he told reporters after announcing the company’s annual results.
He said the company investment in its future projects depended on the nature of the project and hence the board had not limited itself by tying up any fixed amount for investments.
On TPC’s interest in the estranged Dabhol Power Company (DPC), Engineer said at this stage the project continues to remain “problematic” and it was certain that whichever party picks up the project would have to take a considerable level of
hit on the equity. “The governments, both state and central will have to move fast and find a viable solution for the complicated issue”, he added.