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15th ANNUAL REPORT 2017 - 18 BHARATIYA NABHIKIYA VIDYUT NIGAM LIMITED (A GOVERNMENT OF INDIA ENTERPRISE) YEARS OF CELEBRATING THE MAHATMA “Cleanliness is next to Godliness” Corporate Mission “To plan, execute and operate an integrated programme of Fast Breeder Technology based Nuclear Power Stations as a safe, environmentally benign and economically viable source of electrical energy” CONTENTS PAGE NO. Board of Directors & Company Information 1 Chairman & Managing Director’s Statement 2 Directors’ Report 4 Independent Auditors’ Report to the Members 25 Financial Statement for the year 2017-18 31 Comments of the C & AG 59 BHARATIYA NABHIKIYA VIDYUT NIGAM LIMITED BOARD OF DIRECTORS Dr. Kallol Roy Shri K.N.Vyas Chairman & Managing Director Director Dr.Arun Kumar Bhaduri Shri Rameshwar Prasad Gupta Shri Ramendra Gupta Director Director Independent Director Shri M.A.Inbarasu Shri A.R.Sule Shri Aniruddha Kumar Director Director Director Shri V.Rajan Babu Shri V.Murugaiyan Shri A.Jyothish Kumar Shri D.M.Jagadeesh Director (Technical) Director (Finance) & CFO Director (Operations) Director (Constructions) Company Information Statutory Auditors: DAE Nodal Centre M/s. Ramesh & Ramachandran Chartered Accountants Dr.Ambedkar Road, Old No. 29/3, New No. 39 Viswanathapuram Pallavaram - Cantonment, Main Road, Kodambakkam, Chennai - 600 024 Chennai - 600 043. Secretarial Auditors: CIN : U40104TN2003GOI051811 M/s. GPV & Associates Company Secretaries in Practice 17/8, 8th East Street, Kamaraj Nagar, Thiruvanmiyur, Chennai - 600 041 Main Banker: Shri B.T.Sangu Website: www.bhavini.nic.in State Bank of India CS.V.Viswanathan Executive Director (HR) Company Secretary Invitee 1 BHARATIYA NABHIKIYA VIDYUT NIGAM LIMITED CHAIRMAN & MANAGING DIRECTOR'S STATEMENT Dear Members, I welcome you all to the 15th Annual General Meeting of The future growth of BHAVINI is being actively your Company. articulated, with the plan of constructing two FBRs of 600 MWe capacity (twin unit), in the adjoining site of I would like to inform you that during the past one year, the present PFBR. Both IGCAR & BHAVINI are presently although all of us involved with the commissioning of on the job of conceptualization of the new design (600 PFBR, which includes both the design groups from IGCAR MWe) and then going ahead with the detailed along with all the field engineers from BHAVINI, have engineering. Presently, the preliminary layout drawings been working relentlessly for commissioning of the of these twin-units have been made ready and being various systems & sub-systems, the net progress has studied by the engineers of Bhavini, who had earlier been slow, owing to deviation in performance observed, been involved in the erection & installation of all the in certain systems & equipment. In the initial stages of Systems, Structures & Equipment (SSE) in PFBR, for the commissioning of the secondary sodium loops, there providing experience feedback, towards making were a few consecutive commissioning related problems necessary modifications in the proposed layout. of the electro-magnetic pumps in one of the loops, which could be effectively resolved after carrying out As per the present deliberations with DAE, construction appropriate modifications & marginal design changes of these reactors is expected to commence in 2021 by of the electro-magnetic pump. This took almost six months, during which one of the loops kept operating which time, adequate performance feedback on full continuously and the Main Vessel remained heated. power operation from PFBR is expected to be available, Soon after re-commissioning of the loop, after the for factoring in the proposed 600 MWe designs. In long modified electro-magnetic pumps were installed, the term, it is further proposed to build four more reactors, main secondary sodium pump indicated certain FBR-3, 4, 5 & 6, in a different site, towards which a site- deviations in its performance when attempting to selection committee has been formed. Presently, as a characterize for full speed operation and hence the pre-requisite to initiate the construction activity of FBR-1 same had to be removed and re-installed with a spare. & 2, the construction of a Site Assembly Workshop (SAS) Presently, this loop is again being made ready for and the electrical substation for the same is in progress. commissioning and further preparations are underway for commissioning of the primary system. As a parallel The earlier introduced administrative measures activity, the Transfer Arm, which forms a part of the (towards improvement in participation of middle- fuelling machinery, also had to undergo certain management in a large number of administrative issues, modifications, since there were indications of deviations requiring deliberation) resulting in the formation of two in its performance, during the trial tests. Presently the Group-level committees and one Apex Committee, have Transfer Arm is also ready for re-installation. All these been reasonably successful in bringing about smooth above activities, has resulted in a significant shift in the functioning of HR related issues and also employee project progress and today all efforts are being put for satisfaction w.r.t. enhancement of transparency & achieving criticality by middle of 2019. decentralisation of the company management. 2 BHARATIYA NABHIKIYA VIDYUT NIGAM LIMITED The Neighbourhood Development Committee, continues I would like to express my sincere gratitude to the to closely review the applications from various villages Department of Atomic Energy, various other Ministries in the neighbourhood, w.r.t. their urgent social and Departments of the Government of India, Atomic requirements/needs. Some of the major CSR activities, Energy Regulatory Board for their support. pertaining to building of hygienic toilets in the neighbourhood village schools and a clean waiting hall in the maternity ward of the state government health I would also like to place on record the excellent support unit, have earned BHAVINI a good amount of good-will extended by Indira Gandhi Centre for Atomic Research, in the community. Since BHAVINI is not yet a revenue- Nuclear Power Corporation of India Limited, Bhabha earning company, the resources are limited for CSR Atomic Research Centre, Nuclear Fuel Complex, Heavy activities. However, as soon as PFBR starts generating Water Board, Electronics Corporation of India Limited power, the allocations for CSR will get proportionally and other units of Department of Atomic Energy in the increased and further societal activities, pertaining to implementation of PFBR. I am thankful to the Auditors, Education & Skill Development, Human Health Care & the Comptroller and Auditor General of India for their Animal Welfare, Rural Development & Environment Management, etc. would be considered for services and valuable advice. implementation. I express my sincere thanks to Directors on the Board, each and every employee, supporting industries, Atomic Energy Commission (AEC) has issued Guidelines consultants and other stakeholders of your Company. inter-alia on Corporate Governance in the year, 2009. Considering the importance of Corporate Governance, BHAVINI (a non-listed CPSE) generally complies with the Sd/- Corporate Governance guidelines issued by AEC. (Dr. Kallol Roy) Chairman & Managing Director Place: Chennai Date: 28th September 2018 3 BHARATIYA NABHIKIYA VIDYUT NIGAM LIMITED DIRECTORS' REPORT Dear Members, With respect to tertiary system, Performance guarantee Your Directors are pleased to present the 15th Annual tests of auxiliary sea water pumps and condenser Report, together with the Audited Financial Statements cooling water pumps were successfully completed. Two For the year ended 31st March 2018. streams of electro chlorination plant were commissioned and the performance was checked at full capacity. The PROJECT PROGRESS: Prototype Fast Breeder Reactor (PFBR) steam generator tube side preheating with hot water circulation by operating Auxiliary boiler and motor After erection and integration of all the systems both driven boiler feed pump was carried out successfully. in Nuclear Island and in Power Island, commissioning of the individual systems and the integrated commissioning are in progress. Pre-project activities of FBR 1 & 2: During this period, various commissioning activities, BHAVINI-IGCAR task force has prepared Plant layout for pertaining to the secondary sodium loops, are in 2x600 MWe, based on the design inputs and the progress and initially all the sodium circuits in loop-1&2 experiences gained during construction, manufacture, were preheated and sodium flow was established in erection and commissioning of PFBR systems. Site Assembly purification circuits. Subsequently sodium in both the shop (SAS) building work is in progress. The foundation loops was filled and purified to the desired plugging works have been completed and super structure works are temperature and trial runs of Secondary Sodium Pumps in progress. Site Evaluation Report (SER), Prefeasibility (SSP) -1 & 2 were carried out. During the commissioning report and Form-1 &1A to obtain fresh Terms of Reference trials of the secondary loops and characterization of the SSP-1 & 2, certain deviations were noted in the (ToR) for 2 x 600 MWe are being updated. performance of one of the pumps, which was subsequently, replaced with a spare. A detailed study FINANCIALS: of the removed pump was carried out with the help of a) During the year 2017-18; No amount was drawn the designers and additional restraints