State-run SJVN Ltd's capex likely to touch Rs 5,500 cr in 2021-22

State-run SJVN Ltd on Tuesday said that its capital expenditure is likely to reach Rs 5,500 crore in 2021-22 against the targetted Rs 5,000 crore.

The company has planned Rs 8,000 crore capex in 2022-23.

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SJVN CMD Nand Lal Sharma in a statement said, "By registering over 100 per cent capex utilisation in 11 months of current financial year, SJVN has maintained its stature of being an excellent performing Power Sector CPSU."

At the existing pace of work, the capital expenditure is likely to reach Rs 5,500 crore during the ongoing fiscal year, thus surpassing the target by 10 per cent, Sharma said.

For FY 2022-23, SJVN is targeting Rs 8,000 crores capex utilization and with several projects being under development, the company is prepared to meet this target also, he added.

Sharma added that SJVN's capital expenditure has been spread over 10 projects of over 3,500 MW capacity that are in the construction stage.