HimVani
Shimla: Giving a setback to the Himachal Pradesh gobernment’s efforts to attract foreign companies to invest in power projects in the state, the Himachal Pradesh High Court today asked the government to withhold the signing of pre-implementation agreement (PIA) for two mega projects handed out to Netherlands-based company Brakel Corporation till May 14.
Brakel was allotted Jangi Thopan and Thopan Powari (960 MW) hydro project on the Satluj through international competitive bidding in December 2006.
The company had failed to pay the upfront money on time, following which a rival bidding company had approached the court praying that the allocation should be cancelled for violating payment condition.