Hyderabad-based Athena Power will develop the 450-MW Kynshi Stage-I Project, and Jai Prakash Power Ventures Ltd., will execute the 450-MW Kynshi Stage-II project, both over Kynshi river in West Khasi Hills district.
The two projects, along with three others, were kept in suspension for two years after several protests were raised. The protesters alleged that the government had violated the state's power policy by not inviting competitive bids from overseas to optimize benefits.
Power Minister Mukul Sangma said Tuesday in Shillong that an around Rs.7,000 crore would be required for financing the two projects, and the memoranda of understanding or MoU with the companies would be signed soon. The Meghalaya government approved two private companies to develop one hydroelectric project each, of 450 MW, on the built-own-operate-transfer basis, reports say.
Hyderabad-based Athena Power will develop the 450-MW Kynshi Stage-I Project, and Jai Prakash Power Ventures Ltd., will execute the 450-MW Kynshi Stage-II project, both over Kynshi river in West Khasi Hills district.
The two projects, along with three others, were kept in suspension for two years after several protests were raised. The protesters alleged that the government had violated the state's power policy by not inviting competitive bids from overseas to optimize benefits.
Power Minister Mukul Sangma said Tuesday in Shillong that an around Rs.7,000 crore would be required for financing the two projects, and the memoranda of understanding or MoU with the companies would be signed soon.
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