Company that bagged contract to build New Ganderbal Power Project hasn’t signed it yet

Company that bagged contract to build New Ganderbal Power Project hasn’t signed it yet

Officials of Hindustan Construction Company coming from Mumbai today to explain why

Srinagar: Officials of the Hindustan Construction Company (HCC) will be attending a “crucial” meet called by the J&K State Power Development Corporation (JKSPDC) on Monday at Srinagar, after the HCC failed to sign the contract for construction of the New Ganderbal Power Project.
Sources in the government revealed to Kashmir Reader that several officials of the Mumbai-based HCC, which bagged the Rs 810-crore contract, are arriving in Srinagar on Monday to explain why the company failed to sign the contract within the stipulated time, that is, 4th September, 28 days after it was issued the Letter of Intent (LoI).
The HCC is currently building the Kishenganga power project in Gurez valley.
“The deadline to sign the contract ended on September 4 but no one from HCC came to sign the document,” sources at the civil secretariat in Srinagar said. “We issued several notices to the construction company and now some of them (officials) are coming on Monday to Srinagar. They will give a presentation explaining why the company is not signing the contract.”
The HCC has already deposited Rs 10 crore, when it filed the tender, along with five other companies for the project for which bidding started in 2012.
It took almost half a century for the New Ganderbal hydropower project to find its builder.
The 93-MW power project is coming up on the river Sindh in central Kashmir’s Ganderbal district, for which the approach road has already been completed. The state government has allotted Rs 1,000 crore for the hydropower plant’s construction.
The power project will have three turbines with a capacity to produce 31 MW of electricity each. Construction is to be completed in 48 months.
Sources in the government claimed that the HCC was “buying time”.
“They have not submitted (bank) performance certificate,” the sources said.
Work on the power project was scheduled to start this year.
In its statement last month, the HCC had said, “The scope of work includes planning, design, engineering and execution of civil and infrastructure works as well as manufacturing, assembling, inspection, testing and commissioning of electro-mechanical and hydro-mechanical equipments.”
Managing Director of JKSPDC, Dr Shah Faesal, was not available for his comments.



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