pib recommendations
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No.10/1/2008-NHPC (Vol.V) Government of India Ministry of Power
SECRETPage ____of __
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Annex._____(Please refer para____ page____
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Al'\n~. !A Government of India Ministry 0' Firyance~iV:'
Dep'artment of Expenditureif,;. ,r: SUbjGct: Public Investment Board. (PIB) Meeting for Ex- post facto approval for
formation and incorporation 'of Joint Venture Company among NHpJC,JKSPDC,.....
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and PTC and ihfusion of equity' beyond Rs.500 crore by NHPC .in JVC (MIs CVPPPL i.o.ChenabValley Power projects Pvt. Ltd.) and investment approval forr".,~; ...~ J.
, .',. cor.\structio~ of Pa.kal Du', HE Project. . Ministry of Power (i'vlP,P) may r~fer to the meeting of the PIB, held on MaybS, ' .
2013 to consider MoP's proposalon the subject mentioned above . ,.
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2.. ' The PIB considered the proposal. After deliberations, the P.lB noted that the P project cost is too high, resulting in unsustainable first year tariff of Rs.. 9.74 pe~unit and levelized tariff of Hs. 8.22 p.er unit As such, the PIB directed MoP -to reformulate the proposal based orl the following recommendations:
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. (i)' Debt Equity ratio 'of 70:30 may be revisited, as the cost of equity is comparatively high;
(ii) J&K Government may like to consider ways to reduce land cost and -- - - .. -", ...._-----incidence of state taxes;
(iii) Escalations, with refe~ence to the estimates based. on current price level, may be re-examin'ed:' ........ -......-.---.-----:-.-.--
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(iv) Effolis may be ma'd(3'lo reduce the completi'dh period ,'proposed at 6 years . . / '
. .. -- ' .. ,at present. , ........... - ...... , -.... , ... ~- ...~- .... ~.;", .. -"",.. -.,. --....~.- ... -- .. ~ .. "
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3. MoP may reformulate the projosal, before bringing it agafrL for cQnsideration of the P113. ' . . "." " . "':,:;;:;'
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