NHPC gains on getting approval for Dibang Multipurpose Project in Arunachal Pradesh
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NHPC is currently trading at Rs. 38.50, up by 0.20 points or 0.52% from its previous closing of Rs. 38.30 on the BSE.
The scrip opened at Rs. 38.95 and has touched a high and low of Rs. 39.15 and Rs. 38.45 respectively. So far 232678 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 46.90 on 27-Oct-2022 and a 52 week low of Rs. 27.05 on 28-Feb-2022.
Last one week high and low of the scrip stood at Rs. 39.40 and Rs. 37.80 respectively. The current market cap of the company is Rs. 38623.16 crore.
The promoters holding in the company stood at 70.95%, while Institutions and Non-Institutions held 23.00% and 6.06% respectively.
NHPC has received approval from Cabinet Committee on Economic Affairs for incurring expenditure on pre-investment activities and various clearances for Dibang Multipurpose Project (MPP) in Arunachal Pradesh for an amount of Rs 1600 crore. The estimated total cost of Project is Rs 28080.35 crore including IDC & FC of Rs 3974.95 crore at June 2018 price level. The estimated completion period for the project shall be nine years from receipt of Government sanction.
The project shall generate 2880MW (12x240MW) power to produce 11223MU of energy in a 90% dependable year. This is the largest ever Hydro Electric Projects to be constructed in India. The dam is 278 metres high and will be the highest dam in India once completed.
The Project is located on river Dibang, in Lower Dibang Valley District of Arunachal Pradesh. The project envisages construction of a 278m high Concrete Gravity Dam (above deepest foundation level), 6 Nos. horseshoe-shaped Head Race Tunnels of length varying from 300m to 600 m with 9 mdia., an underground Power House and 6 Nos. horseshoe-shaped Tail Race Tunnels of length varying from 320m to 470 m with 9m dia.
On completion, the Government of Arunachal Pradesh will get 12% free power from the project i.e. 1346.76 MU. 1% free power (i.e. 11 2 MUs will be given in Local Area Development Fund (LADF). The total value of benefit to Arunachal Pradesh from Free power and contribution to LADF will be Rs 26785 crore over the project life of forty years.
NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.
