Industry & Economy
-
Power
Subhas Projects forms business unit for power
Our Bureau
Kolkata
,
Nov. 28
SUBHAS Projects and Marketing Ltd (SPML) has formed a strategic business unit (SBU) for bagging and executing orders on power sector projects under the Centre's reform programme.
The decision is in line with SPML's decision to give a thrust to power projects especially those being awarded under the Accelerated Power Development and Reforms Programme. "We have already redeployed about 50 people to this SBU, which will be headquartered here and will make fresh recruitments too," an SPML board level source said.
SPML undertakes engineering, design and construction of infrastructure projects on turnkey basis. It has executed water and waste management projects which it still considers its forte.
However, it is the commissioning of the 20-MW Kabini hydel project in Karnataka on a build-and-operate basis that the company sees as its new area of opportunity. The execution of this Rs 85-crore project, for which a company called Subhas Kabini Power Corporation was formed, established the company's financial credibility too, sources said.
The company has already emerged as the lowest bidder in a clutch of projects under the Union Power Ministry's Accelerated Power Development and Reforms Programme. These projects entail investments varying between Rs 15 crore and Rs 70 crore aggregating Rs 200 crore.
The projects involve setting up substations and enhancing the distribution and transmission network system for the state electricity boards in Karnataka, Uttar Pradesh, Madhya Pradesh and West Bengal. Other companies participating in these tenders were Alsthom, Siemens and L& T, according to sources. The tenders are expected to be finalised by next month.
Pointing out that although the company has never made losses since its inception in the nineties, it skipped dividend for the last three years to maintain cash flow.
Article
E-Mail
::
Comment
::
Syndication
|
