After Mahindra Group’s Rs 1,000 crore investment proposal, JSW Neo Energy will spend Rs 15,000 crore in Uttarakhand. This was announced by JSW as it expressed its commitment through a memorandum of understanding (MoU) with Uttarakhand’s Pushkar Singh Dhami government. With this, nearly MoUs worth Rs 20,000 crore were inked in a single day during CM Dhami’s Delhi leg of his roadshow on Wednesday.
So far, the Dhami government has cobbled up around Rs 32,000 crore investment proposals for Uttarakhand Global Investors Summit, which will be held in Dehradun in December.
According to the agreement signed between JSW and Dhami government, the latter will set up two 1500MW pumped-storage hydropower projects in Almora on the Kosi river. These hydropower projects will be developed in the next 5–6 years.
JSW has assured the government that the scheme will provide drinking water and irrigation facilities to a large population in the Kumaon region and provide employment opportunities to thousands of local people, Dhami said. The CM said his government is getting a huge response from corporate houses for investments in Uttarakhand.
It is significant that the Dhami government recently framed its “Pumped Storage Hydropower Project Policy”, which was ratified by the state cabinet. The new policy aims to attract investors in hydropower projects.