Miniratna Current Affairs - 2019

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NHPC to acquire Lanco Teesta Hydro Power Ltd (LTHPL)

The Cabinet Committee on Economic Affairs (CCEA) has approved the acquisition of debt-laden Lanco’s 500 MW Teesta hydro-electric power project in Sikkim by state-owned NHPC.

Taking over of Lanco Teesta Hydro Power Ltd

  • NHPC will take over debt-laden Lanco’s 500 MW Teesta hydro-electric power project for Rs 907 crore in Sikkim.
  • CCEA has sanctioned the funds for the acquisition and execution of balance work of the Teesta Stage-Vl Hydro Electric Project by the NHPC Ltd.
  • The total cost of the project would be Rs 5,748.04 crore (at July 2018 price level), which includes a bid amount of Rs 907 crore for acquisition and estimated cost of balance work of Rs 3,863.95 crore, which includes Interest During Construction (IDC) and Foreign Component (FC) of Rs 977.09 crore

Teesta Stage-Vl Hydro Electric Project

  • Teesta Stage-Vl Hydro Electric Project is a Run of River (RoR) project in Sirwani Village of Sikkim to utilize the power potential of Teesta River Basin in a cascade manner.
  • The project involves the construction of a 26.5-metre high barrage across river Teesta.
  • The estimated power generation is 2,400 million units of electricity in a 90 per cent dependable year with an installed capacity of 500 MW (4x125MW).

NHPC

NHPC Limited, formerly known as National Hydroelectric Power Corp. was incorporated as Central Govt. Enterprise for development of Hydro Power in Central Sector on 7th November 1975. Over the years NHPC has evolved as the largest central utility for hydropower development in India. NHPC is mandated to plan, promote and organize an integrated and efficient development of power in all aspects through Conventional and Non Conventional Sources in India and abroad.

NHPC which is a premier organization in the country for the development of hydropower has an authorised capital of about Rs.15,000 crores and has a Miniratna status.

Month: Categories: Business, Economy & Banking

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NPCC conferred Miniratna Category–I status

Union Government has conferred status of Miniratna: Category–I to National Projects Construction Corporation Limited (NPCC). The empowerment of miniratna status to NPCC will help company to take speedy decisions by enhancing delegation of powers to Board.

National Projects Construction Corporation Limited (NPCC)

NPCC is schedule ‘B’ Central Public Sector Enterprise (CPSE) under administrative control of Ministry of Water Resources. It incorporated in 1957. It is premier construction company having mandate with creation of infrastructure to provide impetus for economic development of the country. It also has been awarded ISO 9001:2015 Certification. NPCC is making continuous profit since 2009-10 and is having positive networth for last six years. It has ambitious business plan with enhanced order book position of Rs. 11833 crore.

Background

Department of Public Enterprises under Ministry of Heavy Industries & Public Enterprises grants status of Maharatna, Navratna, and Miniratna to Public Sector Undertakings (PSUs) and Central Public Sector Enterprises (CPSEs) based upon profit made by these enterprises. These statuses give financial and administrative power to the companies to a certain extent. At present there are total 8 Maharatna, 16 Navratna, 60 Miniratna Category-I and 15 Miniratna Category-II CPSEs.

Month: Categories: National

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