Damodar Valley Corporation (DVC) is expected to be back in back in the current fiscal. I see the future for our corporation as challenging, but full of promises. I know I can rely on our employees’ support and hard work in ensuring that the DVC overcomes these challenges and seizes on the coming opportunities. This is what our stakeholders and our country expects of us. The efforts we have taken over the last one year have yielded results in reducing costs and increasing revenue. We hope to break even this year or some profit in finical year 2016,” DVC chairman Andrew WK langstieh said.
He said the operating loss in was Rs1,313 crore and interest burden was a major component for losses. DVC cash get better significantly after selling of the Raghunathpur Thermal power plant to NTPC by December, he said.
The Raghunathpur plant would help reducing debt on the company by Rs6,000 crore out of the total Rs30,000 crore now and interest saving by Rs80 crore per month. DVC was also recovering Rs176-180 crore per month from it past dues from Jharkhand .In the last 24 months, 48 per cent of its total dues was collected, langstieh further added.
The DVC chairman said DVC was taking measures to improve utilization of its installed capacity of 6,237 MW from thermal and 147 MW hydro-power. DVC currently produces 3,000 to 3100 MW on an average.
Elaborating the steps to enhance the re-engagement in supplying power to Delhi and MP discoms to the tune of 900MW, langstieh said DVC was also negotiating with Kerala and Karnataka for supply power to the tune 400-500 MW. While negotiation for selling 1,000MW to the railways was also on, he said.
The BTPS, CE and project head P Kumar said DVC has achieved remarkable improvement under the leadership of new Chairman Andrew WK langstieh as the PlF had improved to 54 per cent from 47 per cent in 2014-15 and generation increased significantly, If everything falls in place the new unit of BTPS –A will start contributing 500 MW power to the nation in the next year latest by March, 2016.Kumar said the power generation linked with the units 1,2 and 3 has already been synchronised.
Chief Engineer and Project head, Promod Kumar said DVC also reopened its Bermo coal mines, which was closed for the last two years and in June this year, the mine achieved highest production of 57,130 MT and the fuel linkage had been rationalised resulting into huge coast saving.