Tata Power to Invest $15 Billion to Raise Capacity Eightfold
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Tata Power Co., the generating unit of India’s biggest industrial group, plans to spend 700 billion rupees ($15 billion) to increase capacity more than eightfold as faster economic growth boosts demand for electricity.
The utility plans to generate 25,000 megawatts by 2017, Chairman Ratan Tata told shareholders at the annual general meeting in Mumbai today. A 4,000-megawatt, coal-based plant in Gujarat state is 60 percent complete and the 1,050 megawatt Maithon project in Jharkhand state is 85 percent ready, he said.