Gujarat Industries Power Company Ltd updates on Unit-2 of Surat Lignite Power Plant

Gujarat Industries Power Company Ltd has announced the stoppage of Unit - 2 (125 MW) of Surat Lignite Power Plant (SLPP) situated at Village Nani Naroli, Taluka Mangrol, District: Surat.

There was a sudden cracking and detaching of Economizer duct casing & resultant severe deformation of / damage to Economizer Beams on 05.12.20, which is part of Surat Lignite Power Plant (SLPP) Phase-II, Unit-2 (125 MW) of the company situated at Vill. Nani Naroli, Ta. Mangrol, District: Surat;

After carrying out External Inspection while unit was in running condition, by M/s. Bharat Heavy Electricals Limited (BHEL), the OEM, the said Unit-2 of SLPP Phase-II was forced shutdown w.e.f. 16.12.2020 for internal inspection.

After carrying out Internal Inspection jointly by the Company and the OEM, considering extent of severe damages, it was concluded to resume the unit after replacement of the Economizer Support beams.

As informed by BHEL, considering the criticality of fabrication of high grade material, process requirements in making of Economizer Beams, the delay was there in completiing the engineering and import procurement process mainly due to outbreak of COVID-19 pandemic in Europe and India, with consequential lockdowns; and

Restoration of Unit - 2 operations(with delay) is expected by around mid of March, 2021 and there may be loss in the total revenue, which might have been generated during the anticipated forced shutdown period, of around Rs.45-50 Crores.

This has resulted in delay in timely supply of the Economizer Beams. The supply of materials is likely to commence from February, 2021 onwards in phased manner with completion of supplies of entire materials by around Mid of March, 2021.

It is anticipated that the restoration of Unit - 2 of SLPP Phase-II operations may resume (with delay) by around mid of March, 2021 and there may be loss in the total revenue, which might have been generated during the anticipated forced shutdown period, of around Rs.45-50 Crores.

Shares of GUJARAT INDUSTRIES POWER CO.LTD. was last trading in BSE at Rs.75.25 as compared to the previous close of Rs. 76.15. The total number of shares traded during the day was 8218 in over 230 trades.

The stock hit an intraday high of Rs. 77.25 and intraday low of 75.25. The net turnover during the day was Rs. 625330.

Source : Equity Bulls

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