NTPC plans power plant in Sri Lanka

"We are looking at setting up a 300 MW power plant in Sri Lanka, for which we have submitted a proposal to the Sri Lankan government," NTPC chairman and managing director C P Jain said.

The proposed project is estimated to cost about Rs 1,500 crore (Rs 15 billion) and would be implemented in a joint venture with Bharat Heavy Electricals and Ceylon Electricity Board.

The plant is part of the power major's initiative to become a global company. The generating company has an installed capacity of about 21,000 MW and wants to add another 20,000 MW by 2012.

The plant, which will be implemented in a debt-equity ratio of 70:30, will be run on either coal or gas.

"We are looking at both the fuel options but no decision has yet been taken," Jain said. The project would be run on Built-Own-Operate basis, he added.