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Dutch company to ink power deal soon

Nearly five months after the state Cabinet decided to restore the 960-MW Jangi Thopan Powari hydel project to Brakel Corporation...

Written by Express News Service | Shimla |
March 26, 2009 1:58:00 am

Nearly five months after the state Cabinet decided to restore the 960-MW Jangi Thopan Powari hydel project to Brakel Corporation,the Dutch company may have to wait for more time to sign the implementation agreement (IA).

The company,which has already fought a 15-month-long legal and administrative battle to protect allotment of the project by the earlier Congress government,has,however,been issued a letter,inviting it to sign the implementation agreement.

“We have not only issued a letter informing them about the Cabinet decision on November 25,but also a draft IA has been posted to them. I think the model code of conduct remains the only hitch. There is no other problem now,” said a senior official in the power department.

The company’s top executives,when approached,declined to comment,saying,“Whatever the state government decides for signing the IA,we will go by its decision. They (government) had asked for a few papers from us,which we have already supplied. The company is now waiting for the next intimation.”

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The project,located in Kinnaur district,is expected to cost nearly Rs 5,000 crore.

The allotment of the project had run into trouble after the BJP government,on return to power,had slapped a notice for cancellation of the project.

This,along with a petition filed by rival company Reliance Energy ,created a stand-off between the government and Brakel.

However,finally a committee headed by Chief Secretary Asha Swaroop,was constituted,which decided that cancellation of the project allotment at this stage will not be legally sustainable.

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