Home ECONOMY OMC pays Rs 500 cr dividend to Odisha govt for 2013-14

OMC pays Rs 500 cr dividend to Odisha govt for 2013-14


Odisha Sun Times Bureau
Bhubaneswar, Oct 29:

The Odisha Mining Corporation (OMC) today paid a dividend of Rs 500 crore to the state government towards its equity holding in the state public sector undertaking.

Photo: Biswaranjan Mishra
Photo: Biswaranjan Mishra

Steel and Mines minister Prafulla Mallick today met chief minister Naveen Patnaik and handed over  a cheque for Rs 500 crore to him towards OMC’s dividend for 2013-14 against the state government’s equity holding in the company at the state secretariat here, said an official release. Patnaik thanked OMC authorities for the contribution.

The ‘Gold’ category corporation has earned a profit of Rs 868 crore having done business worth Rs 1854 crore this year. The OMC has set an example by offering 58% of its profit to the state government, the release said.

The corporation had paid Rs 250 crore in 2008-09, Rs 100 crore in 2009-10, Rs 285 crore in 2010-11, Rs 500 crore in 2011-12, Rs 400 crore in 2013-14 and Rs 500 crore in 2013-14, the release said.

The chief secretary and chairman cum managing director of OMC were present during the presentation of cheque.

The Odisha Hydro Power Corporation (OHPC) too paid a dividend of Rs 2.63 crore to the state government. Energy minister Pranab Prakash Das handed over the dividend cheque to chief minister Naveen Patnaik at the state secretariat here.