Himachal finalises four hydel project deals

Four companies have been shortlisted by the Himachal Pradesh government's expert committee of the State Electricity Board for four hydel projects with a total capacity of 628 Mw.

The decision has been taken by the State Infrastructure Development Board, the nodal agency for alloting these projects for which some 18 companies had bid for the four projects, say top official sources here.

The proposal for allotment of these projects to the highest bidders is expected to be given the final nod by the state cabinet which meets here later this week.

GMR Energy, an infrastructure firm is said to have emerged as the highest bidder for the 180-Mw Bijoli-Holi hydel project to be built on the Ravi river in the Chamba valley.The company has offered to pay the highest upfront money of Rs 91,00000 for this project.

LNJ Bhilwara Group's the Malana Power Company is the highest bidder for the 200-Mw Bara Bhangal project to be built on the Ravi river in Kangra valley.

The same company is also learnt to have quoted the highest for the Chango-Yangthang hydel project on the Spiti river in the tribal district of Lahual and Spiti.

The Malana power company has offered highest upfront for both these projects.

DCM Sriram Infrastructure is said to be the highest bidder for the 108-Mw Chhatru hydel project, also in the Lahual and Spiti. Once work is formally awarded to these companies they will have to deposit half the upfront money at the time of signing the memorandum of understanding and a quarter of the money at the time of signing the implementation agreement.

These power companies will need to provide 12 per cent free power as royalty for the first twelve years, 18 per cent for the next eighteen years and 30 per cent after that.

At least 18 companies including Reliance Energy, Essar,Larsen & Tubro, Jaypee Associates had bid for these hydel projects.