HP gets over Rs 257 crore Upfront Premium for hydro projects

Shimla, Aug 27 (UNI) Himachal Pradesh Chief Minister Virbhadra Singh was presented the first installment of 50 percent of the Upfront Premium to the tune of Rs 257.99 crore in a Upfront Premium Presentation Ceremony held here today.

The Independent Power Producers, which had been allotted above 100 MW hydro electric projects for implementation in the state, presented their first installment to the state government.

Mr N K Jain Chairman J S W Limited, Bangalore, presented a draft of Rs 67.60 crore for allotting the company 260 MW Kutehar on Ravi basin in district Chamba.

Chief Executive Officer, Malana Power Corporation Limited, Delhi, Mr A B Giri, presented a draft of Rs 61.20 crore and Rs 25.26 crore against the allotment of 200 MW Bara Bhangal hydro electric project on Ravi basin of district Chamba and 140 MW Chango- Yangthang in Spiti valley on Sutlej basin respectively.

Mr Datta Rao, Chief Executive Officer, D C M Shriram, New Delhi, presented a draft of Rs 21.87 crore against the allotment of 108 MW Chhatru hydro electric project on river Chandra in Lahaul valley of district Lahaul and Spiti.

Mr B V N Rao, Chief Executive Officer, M G R Energy Limited, New Delhi, presented a draft of Rs 82.06 crore against the allotment of 108 MW Bajoli-Holi hydro electric project on the basin of river Ravi in district Chamba.

Addressing the Upfront Presentation Ceremony, Mr Singh said the state would be making a record investment of Rs 84,000 crore in hydro sector in coming decade.

He said projects worth 4,233 MW were under execution and 3,453.5 MW projects were under advance stage of allotment while process of allotment of 2134 MW were in progress.

He said the new Hydro Power Policy of the state had the provision of striking delicate balance to maintain the traditional riparian rights of the stake holders, involve the developers in the process of local area development, ensure attractive relief and rehabilitation package, land compensation, employment opportunities, restore the fragile ecology and environment and adequate resource mobilization for the state, he added.

UNI