Gujarat NRE to invest 30 bln rupees over 4 years

Gujarat NRE Coke Ltd said it plans to invest about 30 billion rupees over the next 4-5 years in expansion projects across Gujarat.

Gujarat NRE Coke Ltd on Tuesday said it plans to invest about 30 billion rupees over the next 4-5 years in expansion projects across Gujarat.

HT Image

The metallurgical coke producer will invest 12 billion rupees in a 200 megawatt wind power project and 10 billion rupees in a 200 MW thermal power plant, it said in a stock exchange release.

It will also invest 5 billion rupees on adding additional capacity at its coke and coal preparatory plants and 3 billion rupees on a 60 MW heat based power plant, it added.

Gujarat NRE's present coke capacity of about 1.00 million tonnes will be expanded to 1.25 million tonnes by March 31, it said.

However, the miner has no firm plans to raise funds for these projects yet and will take a decision later, P R Kannan, chief financial officer, told Reuters.

"In due course we will by next year or end of this year," he said.

Kannan expects the will be completed after 2012.

The power projects will be used for captive consumption, he added.