Uttarakhand Jal Vidyut Nigam Limiteda has been granted the techno economic clearance fo rits120 MW Vyasi hydro electric project from the Central Electricity Authority.
The contract has been awarded to UJVNL for a total of Rs 936.23 crore, which includes a domestic component worth Rs 935.57 crore along with a foreign component of US $ 0.143 million.
Having been provided ample funds for the hydel project, the company can now resume the works that were left hangingdue to severe shortage of funds.
Rs 20.88 crore of the total investment has already been accounted for as payment to NHPC, as part of the Rs 73.07 crore liability after UJVNL took over the 420 MW Lakhwar-Vyasi project and went on to implement the Vyasi project independently. Furthermore, an amount worth Rs 60 crore has already been incurred by the Irrigation Department of Uttar Pradesh for the Vyasi HEP.
The first course of action for the company includes floating tenders for the remaining percentage of works and paying the liabilities to all contractors.
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