BHUBANESWAR: The Odisha Power Generation Corporation (OPGC) on Tuesday paid a dividend of `18.75 crore to the State Government.
Minister of State for Energy Pranab Prakash Das handed over a cheque of `18.75 crore to Chief Minister Naveen Patnaik towards the State’s share of dividend for the year 2014-15.
The State-owned OPGC is expanding its capacity with a capital outlay of `11,547 crore by setting up two more units of 660 MW capacity each at Ib Thermal power station which are under construction.
As per the dividend policy of the company, 25 per cent of the profit of 2014-15 corresponding to 7.5 per cent of the paid up capital has been declared as dividend.
Major portion of the profit is being utilised for financing the expansion project. The new units are scheduled to be commissioned towards end of the financial year 2017-18.
Energy Secretary Rajesh Verma, Gridco CMD Hemant Sharma, Managing Director of OPGC Indranil Dutta and senior officers of the Energy Department and OPGC were present on the occasion.