SJVN pays Rs 158.25 crores as dividend to Himachal govt

SJVN pays Rs 158.25 crores as dividend to Himachal govt

PW Bureau

SJVN has paid an interim dividend of Rs 158.25 crore to the government of Himachal Pradesh, which has 26.85 percent equity in the state-run firm

New Delhi: While announcing an interim dividend of Rs 589.47 crore at Rs 1.5 per share to its shareholders for 2018-19, Satluj Jal Vidyut Nigam (SJVN) Ltd paid the Himachal Pradesh government Rs 158.25 crores as dividend. The state government owns a 26.85 percent equity in the state-run firm. Nand Lal Sharma, SJVN chairman and managing director, delivered the dividend cheque to the state's chief minister Jai Ram Thakur at Shimla.

Sharma also told Thakur that if the state government develops transmission and other required infrastructure, SJVN would seek to develop all the power projects in the Chenab basin. The CM guaranteed the required assistance in the early execution of numerous hydro projects — Luhri Stage I & II, Dhaulasidh, Jangi Thopan and Sunni Dam — being executed by SJVN in the state.

On an investment of Rs 1,055 crore, SJVN has given a total dividend of Rs 1,643.31 crore to the state government. The Indian government also controls 62.44 percent of the company's shares, while 10.71 percent shares are with the public.

SJVN wants to be 5,000 MW company by 2023

The state-owned company would reach its target of turning into a 5,000-MW company by 2023, while reaching 12,000 MW by 2030 and 25,000 MW by 2040, Sharma said.

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