Shimla, May 13 (UNI) The Central Government has conferred the prestigious ''Mini Ratna: category-I'' status on the public sector Satluj Jal Vidyut Nigam (SJVNL), the first company to be given this honour in the first four years after beginning commercial operations, a company spokesman said.
The Mini Ratna status provides for more 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.
The spokesman said the 1,500 MW Nathpa Jhakri Hydro Power Station has been consistently improving power generation since coming into full commercial production four years ago in May 2004.
The SJVNL, located in Kinnuar and Shimla districts of Himachal Pradesh, has been kept in the category I for its commendable performance over the last four years, he said.
The hydel power project posted a net profit of Rs 732 crore in 2006-07, while it was expected to post a new profit of Rs 715.75 crore during 2007-08 according to provisional estimates.
The SJVNL has already paid an interim dividend of Rs 136 crore to its equity partners Centre (Rs 102 crore) and Himachal Pradesh Government (Rs 34 crore), while it had paid an overall dividend of Rs 235 crore during 2006-07.
During 2007-08, the SJVNL generated 6,432 million units (MUs) of energy, as against 6.014 MUs produced in the preceding year.
In 2005-06, the power generation was only 4,104 million units only, while it was 5,147 MUs in 2004-05.
The SJVNL plans to add 3,000 MW of power generation during the 11th and 12th five year plans with 412 MW Rampur Hydro Electric Project under construction and five other projects in the offing in Himachal and Uttarakhand and another 402 MW project allocated in Nepal, the spokesman added.
UNI AS PS BJR NS1738