Kho­longchu Hy­dropower In­cor­po­rated

Bhutan Times - - Home - By Sonam Pen­jor

Amid public crit­i­cism over the de­lay in start­ing the pro­ject, the Kho­longchu Hy­dropower Pro­ject is fi­nally in­cor­po­rated into a com­pany last Fri­day. The 600 Megawatt pro­ject is a joint ven­ture be­tween the Druk Green Power Cor­po­ra­tion (DGPC) and Satluj Jal Vidyut Nigam (SJVN) lim­ited, In­dia.

The pro­ject was in­au­gu­rated by the In­dian Prime Min­is­ter, Naren­dra Modi, in June 2014. How­ever, the public were skep­tic as to why the pro­ject took so long to be in­cor­po­rated and started af­ter the in­au­gu­ra­tion.

Sign­ing the in­cor­po­ra­tion of the com­pany, the Min­is­ter for Eco­nomic Af­fairs, Ly­onpo Norbu Wangchuk, said that the past one year was spent mean­ing­fully for the pro­ject. Pre­lim­i­nary works like sign­ing of share­hold­ers’ agree­ment, pre­par­ing ten­der doc­u­ments, and con­sult­ing the part­ner in In­dia.

“All of these re­quire sub­stan­tial time, energy, fo­cus and at­ten­tion. And the pro­ject re­ceived at­ten­tion and due care from the two com­pa­nies,” said the Ly­onpo.

He added that it is im­por­tant for the two com- pa­nies to forge ex­cel­lent re­la­tion­ship which will be very cru­cial to ex­e­cute the pro­ject. Ly­onpo said that the past one year would have pro­vided am­ple time to forge that re­la­tion­ship.

He also pointed out that while In­dia has the am­bi­tion of “Dreams of In­dia” to grow its Gross Do­mes­tic Prod­uct (GDP) from three tril­lion to 18 tril­lion by 2030 or 2035, Bhutan’s hy­dropower projects would play a sig­nif­i­cant role in re­al­iz­ing the power of eco­nomic dreams of In­dia.

“It will be a win-win sit­u­a­tion,” Ly­onpo said, while In­dia ben­e­fits from the clean energy from Bhutan, the lat­ter is able to earn Rupee which is very much needed go­ing by the eco­nomic sit­u­a­tion of the day. He fur­ther noted that hy­dropower is the eco­nomic driver of Bhutan with its rev­enue earn­ing po­ten­tial which can only be aug­mented once the Kho­longchu pro­ject is com­mis­sioned.

The con­ducive en­vi­ron­ment to con­struct hy­dropower projects was also high­lighted by the Ly­onpo.

He said that Bhutan has clear and healthy en­vi­ron­men­tal laws while be­ing able to pro­tect ecol­ogy and en­vi­ron­ment and be­ing able to en­sure that hy­dropower projects do not dam­age our en­vi­ron­ment, they fa­cil­i­tate de­vel­op­ments of projects as well.

“Our en­vi­ron­ment pol­icy is premised on the vi­sion that de­vel­op­ment and en­vi­ron­ment can go in har­mony” said the Ly­onpo.

The in­cor­po­ra­tion of the pro­ject was signed by the Ly­onpo and the new Man­ag­ing Di­rec­tor of Kho­longchhu pro­ject Shri S K Shamal. Once in­cor­po­rated the com­pany will be reg­u­lated by the laws of Com­pa­nies Act of Bhutan, 2000.

Kho­longchu Hy­dro Power Pro­ject re­ceives the cer­tifi­cate of In­cor­po­ra­tion. The cer­tifi­cate was re­ceived by SK Sa­mal of SJVNL and Dasho Che­wang of DGPC. Kho­longchu pro­ject will now of­fi­cially be­gin the con­struc­tion of 600 MW hy­dro pro­ject in Trashi Yangtse in East Bhutan.

Newspapers in English

Newspapers from Bhutan

© PressReader. All rights reserved.