Bhubaneswar, Dec 2: Odisha Power Generation Corporation Ltd. (OPGC) on Tuesday has handed over a cheque of Rs.18.75 crores to the hon’ble Chief Minister of Odisha towards the state’s share of dividend for the year 2014-15.
The cheque was handed over to the hon’ble Chief Minister in his office by the OPGC officials i.e. Sj.Indranil Dutta, Managing Director and Sj. H.P. Nayak, Director (Finance). The hon’ble minister for energy Sj. Pranab Prakash Das and Principal Secretary, Energy Sj. Rajesh Verma, IAS were also present on the occasion.
It is worthwhile to mention here that OPGC is expanding its capacity with a capital outlay of Rs. 11,547 Crore by setting up of 2 units of power plant of 660MW capacity each at Ib Thermal Power station which are under construction.
As per dividend policy of the company, 25% of the profit of the year 2014-15 corresponding to 7.5% of the paid up capital has been declared as dividend. During construction period major portion of the profit is being utilsed for financing the expansion project. The said units are scheduled to be commissioned towards end of the financial year 2017-18.