SJVNL signs 400m Dollar loan with WB for Rampur project

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Shimla, Jan 15 (UNI) The Satluj Jal Vidyut Nigam (SJVNL) today signed a 400 million US Dollar loan agreement with the World Bank for financing the 412 MW Rampur Hydro Electric Project being set up in Himachal Pradesh, a company spokesman said.

The Rampur Hydro Electric Project is located just below the existing Nathpa Jhakri Hydro Electric Power Station (1500 MW), the country's largest hydro electric plant in operation.

SJVNL's CMD H K Sharma and World Bank's country director Isabella Guerrio signed the documents, in kpresence of Joint Secretary in the Ministery of Finance Madhusudan Prasad and HP's Resident Commissioner Rashima Gupta at New Delhi.

The project is likely to be commissioned by January 2012, within the eleventh plan period and would generate 1770 million units of electricity each year.

HP Government has 30 per cent equity in the project apart from 12 per cent free power and also shall have additional power allocation as its entitlement under the Gadgil formula as a part of northern grid state.

The balance power shall be allocated to all the constituents of the northern grid namely Uttar Pradesh, Uttarakhand, Delhi, Punjab, Haryana, Chandigarh, Rajasthan and Jammu and Kashmir, the spokesman added.

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