Shimla, Jan 7 (IANS) Corporate giant Larsen and Toubro (L&T) has been allotted a hydropower project that was earlier granted to Moserbaer Projects Ltd in Lahaul and Spiti district of Himachal Pradesh, an official said here Friday.
‘The cabinet yesterday (Thursday) decided to re-allot the 420 MW Reoli Dugli hydropower project to L&T as Moserbaer had failed to meet its financial commitments,’ officiating Principal Secretary (Power) Ajay Tyagi told IANS.
He said L&T has agreed to pay the highest bid as offered by the previous company.
The government last year had cancelled the allotment of the project after Moserbaer failed to deposit the upfront premium of Rs.80 crore with the government.
Moserbaer, known for its optical media products such as compact discs (CDs), is currently executing four other hydro projects in the state. These are Seli (320 MW), Teling (69 MW), Miyar (90 MW) and Sach Khas (149 MW).
Himachal Pradesh has abundant water resources with a power potential of about 23,000 MW. About 6,480 MW have been harnessed till now by the central and state governments, private players and joint venture companies.
In the coming fiscal, the state government proposes to add more than 600 MW with the commissioning of Allain Duhangan, Malana II, Budhil, Chamera III and some other small projects.
