Sunil Gutte in Calcutta on Tuesday. A Telegraph picture

Calcutta, Jan. 24: Sunil Hitech Engineers Limited, the Mumbai-based thermal power construction company, is diversifying into engineering, procurement and construction (EPC) based contracts in captive power plants and industrial co-generation projects. The firm is eyeing the captive power plant projects in the range of 5 mw to 60 mw where the maximum growth is expected to take place.

“While the EPC segment will experience massive growth, the co-generation projects will be forthcoming more for self-generation and steam requirements for power plants. Companies are expected to set up their captive power plants in increasing numbers to reduce their cost of power purchased from utilities,” said Sunil Gutte, director, Sunil Hitech Engineers Ltd.

It is estimated that the captive power demand will grow by 1500-2000 mw annually.

Sunil Hitech has already entered the EPC segment by acquiring two projects, one in Tamil Nadu and the other in Maharashtra.

The company has been growing at a compounded annual rate (CAGR) of 92 per cent over the last 5-6 years and posted a turnover of Rs 59 crore for the six months ended September, 2005 compared with Rs 69 for the full-year ended March 31.

“We have also bagged the contract for the largest single unit (660 mw) of the National Thermal Power Corporation. The project will be commissioned next year,” Gutte said.