Shimla, Oct 8 : Hydropower major Satluj Jal Vidyut Nigam that owns and operates the 1,500-MW Nathpa-Jhakri project in Himachal Pradesh has declared a dividend of Rs. 320 crore for
2008-09.

"We have declared a dividend of Rs. 320 crore for 2008-09. Towards the 75 percent equity contribution of the central government, Rs. 240 crore was paid to it," company chairman and managing director H. K. Sharma told IANS Thursday.

The company is a joint venture between the central government and the Himachal Pradesh government, with the former holding a 75 percent stake.

The company earned Rs. 2,029.24 crore last fiscal as against Rs. 1,582.21 crore the year before.

The net profit of Rs. 1,015.32 crore for 2008-09 was 33 percent more than the previous year, Sharma said.

The company plans to invest over Rs. 23,000 crore in the next 10 years.

The central government is considering to offload 10 percent stake through a public offer in the company.

The Nathpa Jhakri project, which is the company's maiden project, commenced commercial generation from its six units of 250 MW each in September 2003.

The project generates about 38 million units daily. The electricity is supplied to Punjab, Haryana, Chandigarh, Himachal Pradesh, Delhi, Jammu and Kashmir, Rajasthan, Uttar Pradesh and Uttarakhand.(IANS)