Moserbear deposits Rs 43.92 Cr upfront premium

Shimla, Aug 27 (UNI) The 144 MW Gondhla Hydro Electric Project executing company, Moserbaer Projects Private Limited, today presented a draft of Rs 43.92 crore to Chief Minister Prem Kumar Dhumal as 50 percent of the total upfront premium in respect of project allotted to them for execution in the Chandra river basin in Lahaul valley.

Moserbear Chief Executive Officer Awadh B Giri accompanied by other senior officials of the comapany presented the premium amount.

Speaking on the occasion, the Chief Minister said the state government had decided to allot every project above 5MW capacity with open bidding system to attract best companies to take up the projects for execution within a time frame.

Local entrepreneurs are being encouraged to take up projects upto 2MW exclusively reserved for them and preference would also be given to them for projects upto 5MW, he said.

He said that the state government had targeted to generate about 12,000 MW additional power in coming five years.

Mr Dhumal said that the state government was exploring the possibilities of generating solar and wind power in the state and experts in the field had been invited to take up the identification work of the locations where such projects could be located.

"This would boost the power generation and the potential available in the state would be tapped for the ultimate benefit of the power consumers," he said.

UNI XC PS MMS1832