Maheswar Project May Go On Stream In Two-And-A-Half Yrs

The National Hydroelectric Power Corporation (NHPC) has said it would complete the controversial Maheswar Power Project within two-and-a-half years, if it is asked to do so. The company is also likely to adopt a guide bond scheme for rehabilitation of the villages falling under the areas that may be submerged following the completion of the Indira Sagar Project.

Yogendra Prasad, chairman, NHPC said: "We will complete the project in two-and-a-half years."

"We will not ask the Madhya Pradesh government to hand over the project to NHPC. The government should approach us if they want to," he added.

"The clearance system continues to be a major culprit in the development of the hydroelectric power sector in the country," he said, adding that "the MP government is very co-operative. We are likely to get the Omkareshwar Power project cleared by March. The public investment board (PIB) is expected to okay the project soon."

The Narmada Hydroelectric Development Corporation (NHDC) is awaiting the power purchase agreement for PIB clearance of the Omkareshwar Power Project. NHDC has spent Rs 172 crore on the Indira Sagar Project and Omkareshwar Power project through internal accruals.

On the Indira Sagar project, Prasad said: "NHDC will complete the Indira Sagar project (on Narmada river at 1000 mw capacity) by 2003. We will start production by 2003."

The project is being executed by the NHDC, a joint venture of NHPC and Madhya Pradesh. He said the power generated from Indira Sagar project would be available at Rs 4-5 per unit. The tariff will decline to Rs 1-1.50 per unit by 2010.

On investment in other power projects, Prasad said NHPC would invest Rs 800 crore for a 900 mw joint venture project (Purulia project) in West Bengal. NHPC is also likely to take up seven projects for the Jammu and Kashmir government.

He also said NHPC would create 1000 jobs in 2002, as the company expects to get more hydropower projects cleared in the coming year.