Date:03/12/2005 URL: http://www.thehindubusinessline.com/2005/12/03/stories/2005120302591900.htm

Back Swasti Power hopes to execute hydel project at Uttaranchal before time

Our Bureau

Hyderabad , Dec. 2

SWASTI Power Engineering Ltd, a Hyderabad-based independent power producer (IPP), expects to complete the Rs 118-crore 22.5 MW hydel station in Uttaranchal ahead of schedule by December 2007.

The Managing Director of Swasti Power, Mr Y.S. Raveendranath Reddy, told reporters on Friday that the project, being funded through debt component of 65 per cent and the rest equity of the promoters, was one of the early projects coming up in Uttaranchal.

Located in the Tehri-Garhwal district, the hydel project was being developed on the Bhilangana river, a tributary of the Bhagirathi, based upstream of the Tehri dam. Once completed, a unit would cost about Rs 2.40 for the first 10 years and Rs 1.21 thereafter. For the first 15 years, the project would not have any water royalty, he said.