SJVN ACHIEVES CAPEX TARGET OF FY 2021-22 OF RS 5000 Cr. ONE MONTH IN ADVANCE - ICN INDIA

SJVN ACHIEVES CAPEX TARGET OF FY 2021-22 OF RS 5000 Cr. ONE MONTH IN ADVANCE

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By: Vijay Kumar Verma, Group Editor-ICN World

SHIMLA : Setting out to meet the ambitious Capital Expenditure (CAPEX) utilisation target of Rs 5000 crores for FY 2021-22, SJVN has crossed the target, one month in advance.

Nand Lal Sharma, Chairman & Managing Director today informed that by achieving Rs 5007.89 Crore CAPEX by 28th February 2022, SJVN has crossed 100.16% of the targeted CAPEX of Rs 5000 crores for current fiscal.
Nand Lal Sharma said “By registering over 100 percent CAPEX utilization in 11 months of current financial year, SJVN has maintained its stature of being an excellent performing Power Sector CPSU. At the existing pace of work, the CAPEX is likely to reach Rs. 5500 crores during the ongoing fiscal year, thus surpassing the target by 10 percent.  For FY 2022-23, SJVN is targeting Rs 8000 crores CAPEX utilization and with several Projects under development, the company is prepared to meet this target also.”

Sharma added that SJVN’s capital expenditure has been spread over ten Projects of over 3500 MW capacity that are in the construction stage. The CAPEX utilization implies the pace and quantum of works in progress in SJVN. 1320 MW Buxar Thermal Power Project in Bihar, 900 MW Arun -3 Hydro Electric Project & 217 km Arun-3 Transmission Line in Nepal, 600 MW Kholongchuu Hydro Electric Project in Bhutan, 210 MW Luhri-1 Hydro Electric Project & 66 MW Dhaulasidh Hydro Electric Project in Himachal Pradesh, 60 MW Naitwar Mori Hydro Electric Project & 37 km Naitwar Mori Transmission Line in Uttarakhand and two Solar Projects Bagodara & Parashan SPP are in advanced stages of construction and are utilizing the capital expenditure in a big way.

“In our history of 33 years, we never had so many projects in the construction stage at any given time. New vistas and business opportunities are opening for the Company, which proves that our recently re-engineered Business Model is working well.”

Talking about the outstanding performance of SJVN’s Generating Power Stations, Nand Lal Sharma informed that in latest achievement, for February 2022, the cumulative power generation from all Power Stations is 239 MU. Power generation has exceeded by 11MU compared to February 2021.

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