📋 Tender Overview
Scope : To Construct Kholongchhu Hydropower Project in Bhutan
The Druk Green Power Corporation (DGPC) will construct the 600MW Kholongchhu Hydro Energy Ltd which will be financed through a debt-equity ratio of 70:30.
The DGPC is trying to arrange 70 percent of debt financing through Power Finance Corporation (PFC), and Rural Electrification Corporation (REC), both GoI non-banking financial institutions that invest in the energy sector in India.
DGPC will have to arrange a 30 percent equity component, which the company hopes to raise through the capital markets.
DGPC took over the 50 percent shareholding of SJVNL in January this year to become the sole owner of Kholongchhu Hydro Energy Ltd, the special-purpose vehicle created to construct and operate and maintain the project.
The project is estimated to cost around Nu 54.40B at the 2024 price level.
In May this year, a due diligence team from PFC and REC visited Bhutan. The closure of the debt-financing is expected to materialise between June and July 2023.
The project officials are pursuing PFC and REC for debt-financing, which works out as Nu 38B but with financing charges, this could exceed Nu 50B.
In the hope that the financial closure can be achieved within June-July 2023 and construction activities restarted immediately, the contracts for the major civil works packages such as the dam, head race tunnel, and powerhouse have been kept alive.
Contract package KC-1 comprising of construction of Dam, Diversion tunnel, power intake, Desilting chambers and 2303 meter of Head Race Tunnel has been awarded to M/s Jai Parkash Asociates Ltd. for an amount of Nu./Rs. 9.72 billion.
Contract Package KC-2 comprising of Part Head Race Tunnel and Chaplangchhu Diversion works has been awarded to a 50:50 Joint venture of M/s Valecha Engineering and M/s Rigsar Construction Pvt Ltd, for an amount of Nu./Rs. 4.348 billion.
Contract package KC-3 comprising of construction of Power House, Surge shaft, Pressure shafts, BVH and part of Head Race Tunnel has been awarded to M/s Jai Parkash Asociates Ltd. for an amount of Nu./Rs. 6.210 billion.
The consultancy agreement with WAPCOS has also been kept alive but under the suspended mode.
Consultant :
WAPCOS LIMITED
Address: 5th Floor, "Kailash Building",
26, Kasturba Gandhi Marg,
New Delhi - 110 001.
India
Tel : +91-11-23313131-2/23313881
Fax : +91-11-23313134/23314924
Email: ho@wapcos.co.in
Website : https://www.wapcos.co.in/
