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Web Exclusive | July 2013

DVC starts to recover Rs 2,300-cr from Jharkhand

Kolkata-headquartered Damodar Valley Corporation (DVC) has started recovery of a part of the Rs 2,300 crore due to it by Jharkhand against electricity sales. A mechanism has been created to collect the dues on a monthly basis and prevent piling up of fresh dues. DVC Chairman RN Sen said the corporation has already received an ad-hoc amount of Rs 200 crore in February 2013.

Jharkhand will pay another Rs 1,000 crore through four equal quarterly instalments in 2013-14. A bankable scheme is being developed for liquidation of the balance outstanding, he added. DVC has completed commissioning of nearly 4,000 mw worth of new thermal power projects. The last ones to come on stream are two 500 mw units at Kodarma, in Jharkhand.

Another two units of 600 mw each will be commissioned in Raghunathpur, Purulia, this fiscal to take the total capacity addition to 5,200 mw. The company had also set up two units of 500 mw each at Maithon in a joint venture with Tata Power.

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