New Delhi, May 13 (UNI) Owing to commendable performance in power generation, state-owned Satluj Jal Vidyut Nigam Ltd has been conferred with the prestigious "Mini Ratna: category-I" status by the government.
The award comes within four years of launch of its commercial operations.
SJVN has bagged the coveted title meeting all the parameters fixed by the Department of Public Enterprises, thus making it eligible for enhanced delegation of powers and freedom of working. The Mini Ratna status grants enhanced autonomy and delegation of financial powers to the profit-making companies under certain laid down guidelines and eligibility conditions to make them efficient and competitive.
Mini Ratna companies fall in two categories, category-I and category-II. SJVN has been conferred with the category-I status as a result of its commendable performance.
The company's 1500 MW Nathpa Jhakri Hydro Power Station has been consistently improving power generation since it went on stream in May 2004. During 2007-08, the power station generated 6,432 million units of energy against 6,014 million units in 2006-07. In 2005-06, only 4104 million units of power were generated.
The corporation posted a net profit of Rs 732 crore during 2006-07 and is explected to have net profits of Rs 715.75 crore (provisional) during this fiscal. The corporation has already paid interim dividend of Rs 136 crore to its equity partners, to the union government (Rs 102 crore) and the Himachal Pradesh government (Rs 34 crore) against Rs 235 crore paid in 2006-07, an official release here said today.
With 412 MW Rampur Hydro Electric Project under construction and five projects in various stages of investigation in Himachal Pradesh and Uttarakhand and one 402 MW project allocated in Nepal, SJVN has ambitious plans to add 3,000 MW of power generation during the 11th and 12th Plans.
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