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Gujarat Industries Power Co. Chairman's Speech > Engineering - Heavy > Chairman's Speech from Gujarat Industries Power Co. - BSE: 517300, NSE: GIPCL
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Gujarat Industries Power Co.

BSE: 517300|NSE: GIPCL|ISIN: INE162A01010|SECTOR: Power - Generation & Distribution
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Mar 03
Chairman's Speech (Gujarat Industries Power Co.) Year : Mar '07
Iam pleased to extend a warm welcome to you 
 on behalf of the Board of Directors to the 22nd Annual 
 General Meeting of your Company. The notice convening 
 the said meeting and the Directors Report and Audited 
 Accounts for the year ended 31st March 2007 have been 
 with you for some time and with your permission, 
 I shall take them as read.
 
 OPERATIONS :
 
 I am happy to report that the Operational 
 Performance of your Company during the FY 2006-2007 
 has been good.
 
 I am happy to inform that, your Company has made 
 arrangements for operation of the two power plants 
 at Vadodara on gas. Your Company has been making 
 all possible efforts to tie up adequate supply of 
 gas for the gas based Power Stations at Vadodara.
   
 STATION  I (145 MW CCPP) :
 
 The station during the year under review 
 generated 1109.70 Million Units at a Plant Load 
 Factor (PLF) of 87.36 % as compared to 1105.06 Million 
 Units at a PLF of 87.00% in the preceding year. 
 I am pleased to inform you that the PLF achieved is 
 higher than that of previous year.
   
 STATION II - (160 CCPP) :
 
 During the year under review the Station generated
 1043.81 Million Units at a PLF of 74.47% as compared 
 to 1216.62 Million Units at a PLF of 86.76% in 
 the preceding year. I would also like to mention 
 that the Station has undergone scheduled major 
 overhaul during the financial year under review.
 
 I am happy to further inform that the Station 
 has operated on Gas during the period under 
 review with the availability factor of 88.87%. 
 
 I am also happy to inform that during the financial 
 year under review major energy conservation and 
 efficiency improvement measures by way of modification 
 in Heat Recovery Steam Generator (HRSG) has been 
 successfully implemented. 
 
 Efforts are on to further improve the performance 
 of the Station.
   
 NATIONAL AWARD FOR MERITORIOUS PERFORMANCE :
 
 During the year under review the Station 
 generated 1043.81 Million Units at a PLF of 
 74.47% as compared to 1216.62 Million Units at 
 a PLF of 86.76% in the preceding year. I would 
 also like to mention that the Station has undergone 
 scheduled major overhaul during the financial 
 year under review.
 
 I am happy to further inform that the Station 
 has operated on Gas during the period under 
 review with the availability factor of 88.87%. 
 
 I am also happy to inform that during the financial 
 year under review major energy conservation and 
 efficiency improvement measures by way of modification 
 in Heat Recovery Steam Generator (HRSG) has been 
 successfully implemented. 
 
 Efforts are on to further improve the performance 
 of the Station.
   
 SURAT LIGNITE POWER PLANT (SLPP)  250 MW :
 
 The Station has achieved a Plant Load Factor
 (PLF) of 80.00 %. With Generation of 1751.935 
 million units during the year under review. 
 Station achieved lowest raw water consumption 
 (2.49 MGD) during the year.
 
 Constant endeavors are being made to improve 
 the overall performance of the station, 
 including technology improvement and modifications.
   
 MINING OPERATIONS  :
 
 Performance of the mining division has been 
 very good and total requirements of Lignite and 
 Limestone were met from our captive Vastan Mines. 
 Total Quantity of Lignite mined during the year
 was 16.59 Lacs MT. Smooth operations in mining 
 division helped the Surat Lignite Power Plant 
 achieve the high Plant Load Factor during the 
 year 2006-07.
   
 EXPANSION PLANS :
 
 I am pleased to inform that your Company is 
 implementing 2 x 125 MW Expansion Project including 
 development of a captive mine for increasing the 
 generating capacity of SLPP to 500 MW. 
 
 Your Company has awarded the Engineering, Procurement 
 and Construction (EPC) Contract for Expansion 
 Project to Bharat Hevy Electricals Ltd. (BHEL) 
 at a cost of Rs. 1199.50 Crores. The total cost 
 of this expansion project including development 
 of a new captive mine, Interest During Construction 
 (IDC), contingency, capital spares, staff colony 
 and other components outside the scope of EPC 
 contract will be approximately Rs. 1635 Crores. 
 
 The site construction activities for Boiler, 
 ESP and Turbine area have been going on in full 
 swing. The Design & Engineering of main plant 
 and major Balance of Plant area have already been 
 completed. The civil foundation work for boiler 
 & Electrostatic Precipitators (ESP) for both 
 units (3&4) have already been completed. 
 
 I am further glad to inform that the major 
 milestone activity viz. Boiler drum for Unit 
 # 3 was lifted on 25/08/2007.The Boiler 
 structural erection work for unit-3 and Unit-4 
 is in progress. Turbine-Generator raft construction 
 of Unit-3&4 is completed. . 
 
 Constant endeavors and regular follow-ups are 
 being made by the Company for critical areas 
 to ensure timely completion of the project.
 
 I am also glad to inform that your Company has 
 also initiated for setting up another expansion 
 project of 500 MW (2x250MW) plus capacity at the 
 same location.
   
 SAFETY PERFORMANCE :
 
 I am also happy to inform that your Company 
 has achieved accident free operation of 3264 
 days as on 30th June, 2007 at Vadodara Plant. 
 Constant efforts are made to maintain accident 
 free operations at all the locations.
   
 ACCREDITATION UNDER ISO CERTIFICATIONS :
 
 I am pleased to inform that during the year 
 under review your Company has obtained ISO:9001:2000, 
 ISO:14001:2004 and ISO:18001:1999 Certification 
 for Quality Management System (QMS) and Environment
 and Occupational Health and Safety management 
 System (EOHSM) for its Power Stations at 
 Vadodara and SLPP.
   
 DIVIDEND :
 
 I am happy to inform that your Directors have 
 recommend payment of Final Dividend for the year 
 ending 31st March, 2007 @ 05% i.e. Rs. 0.50 
 per Share on the 15,12,51,188 Equity Shares 
 in addition to the Interim Dividend @ 15.00% 
 already paid on 29th March, 2007. The net 
 outgo on account of Final Dividend shall 
 be Rs. 884.79 Lacs including Corporate Dividend Tax. 
 The Dividend shall be paid to all those members 
 whose names shall appear on the Register of 
 Members of the Company on the Book Closure 
 Date i.e. on Tuesday, 18th September, 2007.
   
 SOCIAL RESPONSIBILITY & WELFARE :
 
 I am glad to inform that your Company being a
 conscientious corporate body, your Company has 
 been actively involved in the socio-economic 
 development and welfare of the people living 
 around the power plants at Baroda and SLPP through 
 Society for Village Development in Petrochemicals Area)
 (SVADES) and Urja Foundation in Baroda and Development 
 Efforts for Rural Economy and People (DEEP) at SLPP.
   
 HUMAN RESOURCES :
 
 The strength of your Company lies in its team 
 of highly competent and highly motivated personnel 
 at Baroda and SLPP. This has made it possible for 
 your Company to make significant improvement and 
 progress in all areas of activities of the Company. 
 The employees had taken on the challenge to improve 
 the performance of the plants through efficiency, 
 productivity and economy. Your Directors place on 
 record their sincere appreciation for the unstinting 
 efforts and contribution put in by the employees 
 of the Company.
 
 The Company continued in its endeavor to impart 
 appropriate and relevant training to its employees 
 to equip them to meet the challenges that are 
 ahead and to enhance their performance in the 
 best interest of the Company. The Company has 
 also taken up an exercise on career growth & 
 planning by identifying potentials & training 
 needs of employees by engaging professionals 
 in the field.
 The industrial relations during the year have 
 been cordial.
   
 ACKNOWLEDGEMENTS :
 
 I, on behalf of myself and my colleagues on 
 the Board of Directors, place on record their 
 appreciation for the overwhelming co-operation 
 and assistance received from the Government 
 of Gujarat, Participating Units, Government 
 of India, BHEL, Industrial Development Bank 
 of India Ltd., and other Financial Institutions, 
 Banks and other agencies. I also wish to express 
 my gratitude to investors for their unstinted 
 support and faith reposed in the Company. 
 I once again, place on record our deep sense 
 of appreciation for the dedicated services 
 rendered by the Companys personnel. 
  
 
                                                                                                             
  
                                                    
                                                                               
                                                                                  
                                                                                                             
 
                                                    
                                                                               
                                                                                                             
                                             
                                                    
                                                                               
                                                                             
                                                     
Source : Dion Global Solutions Limited
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