Shimla, Aug 25 (Inditop.com) The central government is considering to offload 10 percent stake through a public offer in hydropower company Satluj Jal Vidyut Nigam that owns and operates the 1,500-MW Nathpa-Jhakri project in Himachal Pradesh, a top official of the company said Tuesday.
“The centre is planning to offload 10 percent stake through a public offer this fiscal,” company chairman and managing director H.K. Sharma told Inditop over phone from Delhi.
The company is a joint venture between the central government and the Himachal Pradesh government, with the former holding a 75 percent stake.
“The decision to offload stake has been conveyed to the state government and it has already given a go-ahead in this regard,” Sharma said.
The company has plans to invest over Rs.23,000 crore in the next 10 years.
“We are already executing a 402 MW power project in Nepal and two in Bhutan, besides a host of projects in the country,” Sharma added.
The Nathpa Jhakri project, which is Satluj Jal Vidyut’s maiden project, commenced commercial generation from its six units of 250 MW each in September 2003.
The turnover of the company was Rs.1,582 crore in 2007-2008, with a profit of Rs.764 crore.
The Nathpa-Jhakri project generates about 38 million units daily. The electricity is supplied to Punjab, Haryana, Chandigarh, Himachal Pradesh, Delhi, Jammu and Kashmir, Rajasthan, Uttar Pradesh and Uttarakhand.
