Odisha Sun Times Bureau
Bhubaneswar, May 3:
Odisha Hydro Power Corporation Ltd on Friday signed a Memorandum of Understanding (MoU) with the Energy department for the 2015-16 fiscal.
Aswini Kumar Mishra, director, OHPC (Operation) signed the MoU with Suresh Chandra Mahapatra, principal secretary, Energy at the State Secretariat here.
Among others, Rajesh Sharma, OHPC director (HRD), Santosh Kumar Sahu, director (Finance) and other senior officials of OHPC and Energy department were present.
The MoU specifies different targets like annual generation, machine availability, Renovation, Modernisation and Upgradation (RM&U) of old power stations, gross profit and net profit etc to be achieved by the Corporation during the 2015-16 fiscal, which shall be jointly monitored and reviewed on quarterly/ half-yearly basis by the Energy and Public Enterprises (PE) departments. Besides, other technical and Human Resource (HR) criteria has also been fixed in the MoU.
The aim of the MoU signed since 2011-12 onwards is to make the Public Sector Units (PSUs) perform efficiently in a self sustainable manner as per the Corporate Governance Manual issued by PE department for the state PSUs.
OHPC has been consistently achieving its targets since 2011-12.