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Nava Bharat Ventures Ltd is awaiting the Orissa Government nod to commission the 64-MW thermal power plant.
Chairman of Nava Bharat Ventures D. Ashok has indicated that the commissioning of the Orissa power project during the year will help contribute partially to the growth.
The company’s 150-MW thermal power plant, now under implementation at Paloncha in Andhra Pradesh, is progressing well.
Following the announcement of the company results earlier during the week, the company stated that the quarter was marked by an increase in realisation from merchant power. However, it said that the cost of power generation has gone up due to increase in coal cost.
Business outlook
Providing business outlook, the Chairman said the company is seeing a gradual build-up of ferro alloys inventory in the steel sector. This may need adjustment of production capacity. The sugar business is factoring a seasonal increase in prices ahead of the crushing season.
Referring to the Zambian coal mine and power project, the company said that the work is underway and the long-term off-take of power agreement will help the company. The company is also evaluating projects at Laos and Tanzania.
>rishikumar.vundi@thehindu.co.in
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