SJVNL gets Nepal hydel project

Sutlej Jal Vidyut Nigam Ltd (SJVNL), a state-run company in Himachal Pradesh, has ventured into the international market by bagging a hydel project in Nepal.

There were nine power companies besides SJVNL "" including GMR Energy, Jindal Steel and Power, Reliance Energy and JP Associates "" bidding for the 402-Mw Arun III hydel project.

An agreement was signed between the Nepalese government and SJVNL on Monday, a spokesman of the company said here.

"According to the contract, SJVNL has agreed to offer 21.9 per cent free electricity to the Nepalese government," the official said.

The project will cost Rs 4,400 crore. SJVNL has already built and now runs the 1,500 Mw Nathpa Jhakri project, India's largest hydel project, located in Himachal Pradesh.

75 per cent of SJVNL is owned by the Central government while the remaining equity by the Himachal Pradesh government.