By IANS,
Shimla : Sutlej Jal Vidyut Nigam Limited (SJVNL), a public sector hydel power company based in Himachal Pradesh, was Tuesday given the status of a ‘mini ratna’ by the central government.
“SJVNL has been conferred the prestigious status of mini ratna category 1 within only four years of coming into operation,” said a spokesman of the company.
The ‘mini ratna’ status grants enhanced autonomy and delegation of financial powers to profit making companies to make them more efficient and competitive.
SJVNL has built and now runs the country’s largest hydel project – the 1,500 MW Nathpa Jhakri project.
During the last fiscal year the project generated a record 6,432 million units of energy. This energy is supplied to the power hungry northern grid.
The company is currently in the process of building the 412 MW Rampur project at a cost of Rs.20.47 billion. This project also falls in the Sutlej river basin.
The company has an ambitious plan of additional power generation of 3,000 MW in the 11th and 12th five year plan periods.
SJVNL is jointly owned by Himachal Pradesh and the central government. Last year, the company posted a profit of almost Rs.7 billion.