Himachal to get 49 percent equity in Russian Co. for Chandra Valley Hydro project

cmsep29a.jpgHimachal Pradesh would be getting the maximum of 49 percent equity participation in the 712 MW Luhri Hydro Electric Project allotted for execution to the Satluj Jal Vidyut Nigam (SJVNL), the joint venture of the Government of India and Himachal Pradesh Government. This was revealed by Virbhadra Singh, Chief Minister, in the meeting held with J.S.Kawale, Joint Secretary (Hydro), Ministry of Power, Government of India and H.K.Sharma, CMD, Satluj Jal Vidyut Nigam Limited here last evening.

Chief Minister said that Luhri would be the first hydro electric project in the state where the equity participation of the state government would be maximum besides all provisions of the New Power Policy applicable to the company uniformly.

He said that the state would be getting 30 percent equity in the 412 hydro electric project while the same had been enhanced to the maximum to 49 percent as per the provisions of the New Power Policy of the state government.

Singh said that the SJVNL would be constituting a special purpose vehicle to execute the Luhri HEP in a time bound manner so that generation was started and income accrued to the state exchequer. He said that the World Bank had also agreed to finance the project.

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