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Sutlej Jal Vidyut Nigam declares dividend

Staff Correspondent

SHIMLA: The public sector "mini-Navratna" company Sutlej Jal Vidyut Nigam Limited, which is executing the 1,500-MW Nathpa Jhakri Power Project, has declared a dividend of Rs.159.43 crore.

The dividend cheque of Rs.119.57 crore for the Union Government with its 75 per cent equity in the company was presented to Union Power Minister S. K. Shinde in New Delhi by SJVN Chairman H. K. Sharma, a company spokesman said here on Wednesday.

According to Mr. Sharma, the project during 2005-06 generated a turnover of Rs.1391.78 crore on which the Corporation declared a net profit of Rs.498.22 crore. Mr. Shinde was also informed that Himachal Pradesh, holding 25 per cent equity in the project, had been given a dividend of Rs.39.85 crore by the undertaking.

Mr. Sharma pointed out that the company had the distinction of declaring profits from the very first full year of its operations in 2004-05 when it gave a dividend of Rs.143.16 crore. The Nathpa Jhakri hydro power project began commercial generation from its first 250-MW unit in October 2003, progressively followed by all the six units by May 2004.

During the three years of coming into production the project has generated more than 15,000 million units of electricity which is being supplied to beneficiary states in the northern grid like Rajasthan, Delhi, U.P., Punjab, Haryana, Uttaranchal, Jammu & Kashmir and Chandigarh besides the home State of Himachal Pradesh.

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Sutlej Jal Vidyut Nigam declares dividend

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