India NTPC Plans Lower Capex This Year as Demand Growth Slows
- Company plans 230 billion rupees capital expenditure in FY18
- Lower spending comes as nation’s power plants under-utilized
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NTPC Ltd., India’s biggest electricity producer, is planning its first reduction in capital spending in at least six years amid the country’s slowing demand growth and surplus capacity.
The state-run generator, which accounts for about 13 percent of the nation’s capacity, plans to spend 230 billion rupees ($3.6 billion) as capital expenditure this financial year, according to NTPC’s finance director, Kulamani Biswal. That is about 18 percent lower than what it spent in the previous year and the first year-on-year decline in records going back to the year ended March 2013, company filings show.