NEW DELHI, Sept 11 (Reuters) - GMR Energy plans to invest 100 billion rupees to generate up to 3,000 megawatt nuclear power in next five to seven years, days after India won a waiver on a ban that stopped it from accessing the global atomic market.
"We are looking for partners for nuclear plants. We are in talks with equipment and fuel suppliers in France, U.S. and Korea. In next 6-12 months time our plans will be firmed up," Avinash R. Shah, executive vice president of GMR Energy told reporters on the sidelines of an industry conference on Thursday.
GMR Energy, a unit of GMR Infrastructure Ltd (GMRI.BO: Quote, Profile,Research) that also develops airports, highways and urban infrastructure, currently produces about 800 megawatts of power.
"We have got projects worth 4,500 megawatt either in operation or development phase," Shah said, adding the firm will invest upto 200 billion rupees to attain that capacity in hydro, thermal and natural gas power projects.
GMR Energy, which aims to list on local bourses in two years, plans to lift its installed power generation capacity to 10,000 megawatts in next five to seven years.
This will be in addition to 2,000-3,000 megawatts of nuclear power, Shah said.
GMR was scouting for coal mines in Indonesia, Australia and Africa for its thermal-based power plants.
"We will be feeding our plants in India with these coal mines," he said. (Reporting by Nidhi Verma & Rakesh Sharma; Editing by Ramya Venugopal)
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