Civil works for Himagiri's hydropower project to be awarded in July

The civil package for the 300 MW Panan hydro electric project will likely be awarded once the state PWD has finished building the nearby roads and bridges by July 2012.

The project is being developed by Himagiri Hydro Energy Private Limited has been put on hold.

HHEPL has been accorded the environmental and forest clearances by the Ministry of Environment and Forests, whereas it is yet to obtain the clearances from the Ministry of Defence and the National Board on Wildlife.

The construction activity at the site is scheduled to commence by September 2012 and financial closure is expected to be achieved by the end of April this year.

The approved completion cost of the project stands as Rs 1,833.05 core, in the form of equity contribution of Rs 549.92 crore and domestic commercial borrowings worth Rs 1,283.14 crore. While various civil works for the project will cost about Rs 1,117.66 crore, the electro-mechanical works would require Rs 433.24 crore.