Financial Daily from THE HINDU group of publications
Sunday, May 11, 2003
Financial Daily from THE HINDU group of publications Sunday, May 11, 2003 |
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Corporate
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Performance Performance bonus for Thermax Our Bureau
PUNE, May 10 THE energy and environment management company, Thermax Ltd, has been awarded a Rs 1-crore performance bonus for early completion of Shree Cement's 36 MW captive power plant, at Beawar, Rajasthan in a record time of 17 months, four months before schedule. The cheque was handed over to Mr Prakash Kulkarni, Thermax's Managing Director by the Rajasthan's Chief Minister, Mr Ashok Gehlot, who inaugurated the power plant, a company press release said. This power plant had been engineered, procured and constructed (EPC) by Thermax for Shree Cement Ltd. "Thermax concentrates on fast-track completion as delays and cost overrun push up the cost of power, making power projects unviable. The company's track record in EPC power plant construction is amply demonstrated by this Shree Cement experience," Mr Kulkarni said. "Thermax has gained a performance bonus for a record 17-month construction and commissioning time frame, saving 3-4 months, which translates to Rs 12-15 crore for Shree Cement," he said. Thermax provided water-recycling solutions adding to Shree Cement's resource productivity. Thermax also contributed to a basket of in-house products essential for effective plant performance and post-commissioning support, the release added.
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