SJVN to invest Rs. 7000 crore in Nepal
SJVN Limited informed the exchanges on Monday that it is investing around Rs. 7,000 crore in power generation and transmission in Nepal. Despite a positive development, the stock of SJVN is trading in red on Monday.
SJVN will invest Rs. 5,724 crore in power generation and Rs. 1,236 crore in power transmission in Nepal. Further, the company is executing the Arun-3 hydroelectric project (HEP) on Arun river in Sankhuwasabha district of eastern Nepal with a generation capacity of 900 MW. This is the highest investment made by any company in the world in Nepal.
According to the company, work for Arun-3 HEP has begun and it is in full swing. It will be commissioned in 2023-24. The Arun-3 HEP is as prestigious for Nepal as Bhakra Dam is for India as the power generation capacity of the Himalayan country will be more than double after its commission.
SJVN is engaged in hydroelectric power generation originally established as a joint venture between the government and the state government of Himachal Pradesh to develop and operate the Nathpa Jhakri Hydro Power Station (NJHPS). The company is a Mini Ratna & Schedule 'A' CPSU under the Ministry of Power, Government of India.
At 12:42 hours, the shares of SJVN are trading at Rs. 24.45, down by 0.41 per cent from its previous close for Rs. 24.55 in BSE.