Sikkim: Renewed Bids For Panan Hydropower Project Sought

  |   Sikkimnews

Renewed bids have been sought by PTC India Financial Services for the 300 MW Panan Hydropower Project.

The $383-million Panan project was awarded to Himagiri Hydro Energy in 2005, but as it was not able to achieve financial closure it has been assigned to PTC India Financial Service.

Its agreement with the Sikkim government also lapsed on September 7.

This joint venture project proposes to construct a dam across the Rangyongchu river, at the foot of Lingzya village in North Sikkim.

The government will also infuse 26 per cent equity into the project.

The last date for bid submission for the project is October 9....

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