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State-run Satluj Jal Vidyut Nigam Ltd has mentioned that the government’s decision for divesting 10% stake of the nationalized hydropower major will enable branding and creation of identity of the company.
"This (Disinvestment) will help us in branding our company. It will create our identity as shares will be floated in the market," company Chairman and Managing Director H.K. Sharma told.
He mentioned that SJVNL has plans for investing over Rs.230 billion for generating power.
"We are ready to invest over Rs.23,000 crore in the power-generation sector. Our plans are to tap 4,000 MW additional hydropower in the next 10 years,"
The Cabinet Committee on Economic Affairs (CCEA) on Monday had approved the disinvestment of government equity in the SJVNL as well as the state-run power producer NTPC. SJVNL, which is a collaboration of central government and Himachal Pradesh government, has central government holding 75 percent stake.
SJVNL is already executing a 402 MW power project in Nepal and two in Bhutan, besides a host of projects in the country.
Recently, SJVNL has signed a memorandum of understanding for the execution of the 1,500-MW Tipaimukh hydropower project in Manipur in partnership with NHPC Ltd and the Manipur government.
Currently, SJVNL, whose paid up equity capital is Rs.4,108.81 crore, owns and operates its maiden 1,500-MW Nathpa-Jhakri project in Himachal Pradesh's Kinnaur district.
