Orissa government today signed a MoU with central public sector National Hydro-Power Corporation (NHPC)

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for setting up three hydel units down Hirakud reservoir at an investment of Rs 3,000 crore.

The MoU signified formation of a joint venture company (JVC) between the state-owned Orissa Hydro Power Corporation (OHPC) and NHPC for implementation of Sindol-1 (100 MW), Sindol-II (100 MW) and Sindol-III (120MW) hydro-electric project in the first phase.

The MoU was signed among Oriss government's energy secretary G Mathivathanan, OHPC managing director Sahadev Khatua and NHPC's CMD ABL Srivastav.

"The three units, with least impact on environment and least inconveience to public as compared to thermal power projects can be constructed in four years," chief minister Naveen Patnaik who was present during MoU signing, said.

The three projects under the JVC would be set up in the downstream of river Mahanadi in Sambalpur, Sonepur and Boudh districts with zero displacement and no damage to the local ecology, the chief minister said.

While NHPC would have 51% stake in the JVC, OHPC's share is 49%, chief secretary BK Patnaik said adding the state would get 12% free power from these projects and one% of the cost of power generation is to be spent on peripherial development activities.