NHPC to pay advance of Rs 225 cr to Arunachal

Itanagar, Jun 22: The National Hydro Electric Power Corporation (NHPC) would pay Rs 225 crore to Arunachal Pradesh as advance against three hydro power projects to be executed in the state.

The amount would be formally handed over to the state government on June 24 when the Corporation would ink Memorandum of Agreements (MoAs) with the state government for two projects, informed advisor to the Chief Minister, Takam Sanjoy, during a press briefing here today.

The projects against which the advance would be paid included 3000 mw Dibang multi-purpose project, Tawang Phase-I and II of 750 mw capacity each.

The MoU for Tawang Phase-I had already been signed, he informed. The state government would pay interest of nine per cent for the amount only after commissioning of the projects, including 2000 mw Lower Subansiri project at Gerukamukh, which would be adjusted from the 12 per cent free power to be provided to the state by the corporation, he added. When his attention was drawn to large protests by various quarters for taking advance and thereby mortgaging the future of the state, Mr Sanjoy clarified that the state already had a debt service liability of over Rs 1000 crore and this small amount would not be a burden. Some sections were trying to sabotage the government initiative, which was a serious threat to the state's development, he commented.

'' By signing MoAs with Central Public Sector Undertakings (CPSUs) we are carrying forward the vision of Prime Minsiter Manmohan Singh to tap 50,000 mw hydro power potential in the country, '' he said.

To a question regarding organising public hearing before signing MoA for any power project, Mr Sanjoy termed it as a "misconception" and said the MoA was an authorisation of security to the executing agency, which would invest in the state, and public hearing would take place only before preparing detailed project report (DPR). He said the amount would be deposited in the public ledger account of the Secretary to state Power department, which would be utilised for payment to the depositors of the state-owned Cooperative Apex Bank, he informed and said the government had already initiated steps to revive the sick Bank with suitable policy.

He further informed that the report of the high power committee, constituted to go into details on the present state of affairs of the Bank, would be tabled in the Cabinet for formulating a clear-cut policy for its revival.

However, proper scrutiny would be done by the respective Deputy Commissioners and other officers on each branch of the Bank before making payment to genuine depositors, he added.

The state government was contemplating to appoint one expert from either Reserve Bank of India or NABARD, who would suggest the government in formulating appropriate plan for revival of the Bank, he stated.

Referring to the recent state government's announcement of "golden handshake policy" for labourers, which had evoked sharp reactions among various sections of people, including the labour union, the advisor informed that the government would initiate a dialogue with the labourers before implementing the policy and their opinion and suggestions would be taken care of.

UNI