Mumbai: Satluj Jal Vidyut Nigam (SJVNL), a government-owned hydro power producer, will start work on its 252 mw project at Devasari in Uttarakhand in fiscal 2011-12, a senior company official said.
K S Malhotra, general manager-finance & accounts, said the detailed project report was in advanced stages of preparation.
Asked about the cost of the project, he said it would be Rs 5 crore per mw, working out to Rs 1,260 crore for 252 mw.
SJVNL, set up in 1988, is a 75:25 joint venture between the Centre and the Himachal Pradesh government. SJVNL’s initial public offer will hit the markets in May, through which the central government will divest 10% of its stake to reportedly raise Rs 1,200 crore.
The IPO was to happen earlier this year, but was put on hold due to lukewarm response to the follow-on public offers of National Thermal Power Corporation (NTPC) and Rural Electrification Corporation (REC). SJVNL’s 1500 mw Nathpa Jhakri Hydro Power Station along the river Satluj in Himachal Pradesh with six units of 250 mw each is the biggest hydel power plant in the country. SVJNL has also completed almost 50% of construction of a 412 mw plant at Rampur, Himachal Pradesh.
“We are looking to commission it by 2013,” Malhotra said. About 70% of the project cost of Rs 2,047 crore has been funded by the World Bank. Other than these, the company is constructing a 775 mw project in Himachal Pradesh, two projects with a collective capacity of 95 mw in Uttarakhand, 405 mw in Nepal. SJVNL also has plans for two hydel plants in Bhutan.
Source:http://www.dnaindia.com
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