Promoters NCC and IL&FS to exit 100 MW Sorang Project in Himachal

Shimla: Promoters of the 100 MW Sorang hydroelectric project on River Satluj basin, the infrastructure companies NCC and IL&FS are considering completely exiting from the project that is in an advanced stage of construction by divesting equity to an unnamed investor.

The project involving an investment of Rs 849.8 crore is about 85 percent complete. The transaction is expected to be completed by December.

A media report quoted YD Murthy, executive vice president NCC, “”We have identified an investor and signed the term sheet. The due diligence process is currently going on. The transaction may be consummated by December or so.”

NCC holds 67 percent equity in Himachal Sorang Power that is constructing the run of the river project on Sorang River, a tributary of Satluj River and IL&FS holds the balance 33 percent.

As Editor, Ravinder Makhaik leads a team of media professionals at Hill Post. Spanning a career of over two decades in mass communication, as a Documentary Filmmaker, TV journalist, Print Media journalist and with Online & Social Media, he brings with him a vast experience. He lives in Shimla.

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1 Comment

  1. says: santosh chandel

    Government should black list such company who cannot manage to execute the projects. This was a very good project in Kinnaur having small components i.e. especially HRT and Transmission Line. But NCC management have allotted the work of so many components to their sister concern company even though such companies have not exposure of Hydro work in hillty terrain. Also one more thing NCC have deputed such a poor management who have no exposure of hydro power projects in hilly terrain. Government should put a enquiry why this project is going to be delay.

    Santosh

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