Virbhadra Singh, Chief Minister was presented the first installment of 50 percent of the Upfront Premium to the tune of Rs. 257,99,62,870 in a Upfront Premium Presentation Ceremony held here today by the Independent Power Producers which had been allotted above 100 MW hydro electric projects for implementation in the State.
N.K. Jain, Chairman, JSW Limited, Bangalore, presented a draft of Rs. 67,60,12,870, for allotting them 260 MW Kutehar on Ravi basin, in district Chamba; A.B.Giri, Chief Executive Officer, Malana Power Corporation Limited, Delhi, presented a draft of Rs. 61.20 crore and Rs. 25,26,30,000 against the allotment of 200MW Bara Bhangal hydro electric project on Ravi basin of district Chamba and 140MW Chango- Yangthang in Spiti valley on Sutlej basin respectively; Datta Rao, Chief Executive Officer, DCM 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 and B.V.N. Rao, Chief Executive Officer, MGR Energy Limited, New Delhi, presented a draft of Rs. 82,06,20,000 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, Virbhadra Singh said that the State would be making a record investment of Rs. 84,000 crore in hydro sector in coming decade. He said that projects worth 4,233 MW were under execution, 3,453.5MW projects were under advance stage of allotment while process of projects allotment worth 2,134 MW were in progress.
He said that 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 said that the State Government had provided a subsidy of over Rs. 110 crores and a provision of Rs. 134 crore had been made for the purpose for current financial year.