Capex utilization of Rs 4510 crore in 9 months of the current fiscal is a big achievement, Nand Lal Sharma

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Capex utilization of Rs 4510 crore in 9 months of the current fiscal is a big achievement, Nand Lal Sharma

SJVN Achieves record 90% CAPEX Target in 3 Quarters

 

SHIMLA: January 06, 2022

 

State owned SJVN Limited has achieved a record 90 percent Capital Expenditure budget utilization target set for the financial year 2021-22 a quarter ahead of the year, in December 2021.

Nand Lal Sharma, Chairman & Managing Director informed that by achieving 90% CAPEX utilisation Target of Rs 4510 Crores by 31st December 2021, SJVN has emerged as one of the Top Performers among central Power PSUs. The capital expenditure is on several ongoing projects of the company in hydro, thermal, wind and solar sectors. SJVN’s 1320 MW Buxar Thermal Power Project in Bihar, the 900 MW Arun -3 Hydro Power Project in Nepal, the 210 MW Luhri Hydro Power Project and 66 MW Dhaulasidh Hydro Power Project in Himachal Pradesh, and the 60 MW Naitwar Mori Hydro Power Project in Uttarakhand are under construction and utilizing the capital expenditure in a big way. The CAPEX utilization signifies the pace and quantum of works under way.

Congratulating the employees Sh. Nand Lal Sharma said “a Capex utilization of Rs 4510 crore in 9 months of the current fiscal is a big achievement for us. For 2022-23, the Capex target for SJVN is set out at Rs 8,000 crore and given the pace at which work on executing several Projects is going on, the company is well poised to meet its Targets.”

Sh Sharma, expressed his deep gratitude to Sh. R.K. Singh, Union Minister of Power & NRE & Ministry of Power for guidance and regular reviews to accelerate the pace of Capital Expenditure, which enabled picking up momentum, thus leading to this achievement. Among the Central Power PSUs SJVN figures second in capital expenditure budget utilization.

The Ministry of Power has lauded the efforts of SJVN for achieving this emulating ranking among the Top power sector CPSEs in achieving its Capex targets.

SJVN starting with a Single Hydro Project in the year 1988 has today exponentially grown with a Portfolio of more than 16000 MW, out of which 2016.5 MW is under Operation and the rest under various stages of Development. Presently, SJVN has a footprint in nine States of India and in two neighbouring countries namely Nepal & Bhutan. The company has also diversified in other fields of Energy Generation and Transmission.

SJVN has set its Shared Vision of capacity building of 5000 MW by 2023, 12000 MW by 2030 & 25000 MW by 2040.