Essar keen on Uttaranchal power project

The Rs 2,500-crore Essar group is keen on Uttaranchal. "We are looking for business in hydro power," said Mukesh Tyagi, the head of the business development group, which held talks with top government officials here.

Tyagi headed a business development team, which collected some preliminary data regarding the business opportunities in the state where the tax holiday scheme has attracted investments of Rs 8,000"�9,000 crore from various industrial houses.

Top companies like LG, Hero Honda, and Britannia are putting up their units in the state. More such proposals are also in the pipeline, officials said.

In the hydro power sector, the Essar group is looking for investments in the run-of-the-river hydro projects because the state has scope to increase its power output to 15,000 Mw.

The Tehri hydro project will alone generate 2,400 Mw, the first phase of which is scheduled to be commissioned in June-July next year. In addition to hydro power, the company was also looking for opportunities in business process outsourcing and petrol pumps, Tyagi said.

Tyagi had detailed talks with Industrial Secretary Sanjiv Chopra in this regard. "We have had constructive talks with Essar people. I think some proposals are likely come up in the near future," Chopra told Business Standard.