SJVN achieves record 90 per cent capex target in Apr-Dec

State-owned SJVN Ltd on Thursday said it has achieved a record 90 per cent capital expenditure target in April-December 2021. "State-owned SJVN Ltd has achieved a record 90 per cent capital expenditure budget utilisation target set for the financial year 2021-22 a quarter ahead of the year, in December 2021," the company said in a statement.
SJVN Chairman and Managing Director Nand Lal Sharma said that by achieving 90 per cent capex utilisation target of Rs 4,510 crore by December 31, the company has emerged as one of the top performers among central power PSUs.

The capital expenditure is on several ongoing projects of the company in hydro, thermal, wind and solar sectors.

SJVN's 1,320-MW Buxar Thermal Power Project in Bihar, 900-MW Arun-3 Hydro Power Project in Nepal, 210-MW Luhri Hydro Power Project and 66-MW Dhaulasidh Hydro Power Project in Himachal Pradesh, and 60-MW Naitwar Mori Hydro Power Project in Uttarakhand are under construction and utilising the capital expenditure in a big way.

The capex utilisation signifies the pace and quantum of works underway.

Sharma said, "A capex utilisation of Rs 4,510 crore in nine months of the current fiscal is a big achievement for us. For 2022-23, the capex target for SJVN is set out at Rs 8,000 crore and given the pace at which work on executing several projects is going on, the company is well poised to meet its targets."

Among the central power PSUs, SJVN figures second in capital expenditure budget utilisation, it stated.

The power ministry has lauded the efforts of SJVN for achieving this emulating ranking among the top power sector CPSEs in achieving its capex targets.