RP-Sanjiv Goenka group to focus on power distribution
Having unsuccessfully tried to develop two hydropower facilities in Arunachal Pradesh for last couple of years; the group is no more bullish on the hydropower generation potential in India, either.
“We have roughly 2,000 MW of generation capacity.. We will not aggressively push for additional generation of capacity,” group chairman Sanjiv Goenka said on Friday.
He was addressing a press conference after the annual general meeting of the group flagship CESC Ltd in the city.
CESC earmarked an investment of ?1,000 crore into its power business in 2017-18. Goenka said the company was is in talks with several states including Uttar Pradesh for distribution rights.
The company is a licensee operator in Kolkata and runs distribution franchises in Kota, Bharatpur and Bikaner in Rajasthan.
The Rajasthan operations are expected to report a combined turnover of ?1,300 crore this fiscal.
CESC recently proposed demerger of its businesses into different companies — CESC Ltd, CESC Generation, Spencer’s Retail and CESC Ventures (BPO operations, FMCG and other). The new entities are likely to be listed by October 1, Goenka added.