Steel Authority of IndiaLimited (SAIL) today received a cheque for Rs. 14.5 crore as its share of pidend for FY ÔÇÖ10 from NTPC-SAIL Power Company Ltd (NSPCL), the 50:50 profit-making joint venture (JV) in power of two Maharatnas, SAIL and NTPC. Mr. R.N. Sen, Chief Executive Officer, NSPCL, presented the cheque to SAIL Chairman Mr. C.S. Verma in the presence of SAIL Director (Technical) Mr. V.K. Gulhati, SAIL Director (Commercial) Mr. Shoeb Ahmed and other senior executives of the JV partners.
NSPCL, which manages captive power plants of SAIL at Rourkela, Durgapur and Bhilai with a combined capacity of 814 MW, has been paying pidend since its inception in 2001-02.
SAIL receives Rs. 14.5 crore as pidend from JV with NTPC
(From Left) SAIL Director (Technical) Mr. V.K. Gulhati, SAIL Chairman Mr. C.S. Verma and SAIL Director (Commercial) Mr. Shoeb Ahmed with the pidend cheque from NSPCL
On the occasion, Mr. Verma said that SAIL is planning to set up additional captive power units to meet its future power requirements. SAILÔÇÖs growth plan, which is currently being implemented, envisages enhancement of hot metal production capacity from the current level of around 15 million tonnes per annum (MTpa) to 23.5 MTpa by 2012-13 and further to around 60 MTpa by 2020. In tandem, SAILÔÇÖs power requirement is expected to grow to around 1,900 MW by 2012-13 from the current level of about 1,180 MW. By 2020, the average load of steel plants, including the power requirement of mines, is likely to grow to about 4,600 MW which the company plans to meet through captive sources.
