Netherlands company to invest one billion dollar in Himachal

Brakel Corporation of Netherlands has been inspired by the industrial friendly and economically safe environment of Himachal Pradesh and shown interest in investing one billion dollars in hydel power and other sectors over a period of time. This was revealed by Virbhadra Singh, Chief Minister, after he had a meeting with Dean Gesterkamp, Director of Brakel Corporation, Netherlands, accompanied by its Director in India Anil Wahal, who called on him here today.

Chief Minister said that Himachal Pradesh would welcome direct foreign investment and make reputed entrepreneurs partners in the development of the State and in harnessing the natural potential available in the State for exploitation. He said that the State had been blessed with immense natural wealth, which could bring about prosperity in the State and contribute towards the development. He said that the government was safeguarding the interest of the people in all such activities besides taking ecological safeguards so that environment was not disturbed.

Virbhadra Singh said that the State would soon be advertising the identified hydel power projects and invite open bids for their execution. He said that the Government had reserved projects up to 5 MW for execution by the people from within the State of Himachal Pradesh so that they could also contribute towards exploitation of hydel potential while projects between the 6MW to 100MW would be allotted through MOU and projects above 100MW would be advertised widely and competitive bids invited from reputed company with global standing.

He said that the codal formalities for announcing the projects were nearing completion and soon the projects would be advertised so that the execution process could be started at the earliest. He said that the Government would maintain transparency in allocation of projects and all related aspects taken into consideration so that interests of the State and investors were safeguarded equally.

Chief Minister said that the State Water Policy and the Hydel Power Policy had the provision of making it mandatory to maintain minimum of 10 percent water flow in every project down stream beyond the dam area. He said that it had been made compulsory after taking all aspects into consideration and for the survival of the marine line, feeding the drinking water supply and irrigation schemes based on the river water. He said that the minimum of ten percent water discharge was also necessary for the maintenance of the ecological conditions of the area which otherwise would get affected adversely.

Virbhadra Singh said that vast industrialisation was in progress in the State and besides prominent national companies multinational companies were also coming forward to invest in the State after they got convinced that there were best of the industrial friendly, good governance, political stability, law and order conditions in the State. He said that many direct foreign investors had also shown interest in investing in different projects of hydel power and tourism etc. in the State.

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