Satluj Jal Vidyut Nigam declares Rs.2.44 bn dividend

Shimla, Sep 27 (IANS) Government-run hydroelectric major Satluj Jal Vidyut Nigam (SJVN), which is operating the 1,500 MW Nathpa Jhakri Hydropower Project in Himachal Pradesh, has declared its highest dividend of Rs.2.44 billion ($53 million) for 2007-08.

'This year's dividend was the highest so far,' SJVN deputy general manager V.K. Verma told IANS Saturday.

He added that the company had achieved a record net profit of Rs.7.64 billion during the period against Rs.7.37 billion of 2006-07.

SJVN is a joint venture between the central government and Himachal Pradesh state government, with the former having 75 percent stake.

SJVN last fiscal produced 6,449 million units of electricity against 6,448 million units of the previous year.

The Nathpa Jhakri project in Kinnaur district, the maiden project of SJVN, commenced commercial generation from its six units of 250 MW each in September 2003.