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World Bank aid for NE power projects

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  14 March 2015 12:00 AM GMT

AGARTALA, March 13: The World Bank would provide the major share of a Rs 5,111 crore project to develop and expand infrastructure in the power sector in six north-eastern states, top officials said here on Friday.

State-owned Power Grid Corporation of India Ltd (PGCIL) would execute the World Bank-aided projects in six of the eight north-eastern states of India.

“The World Bank-aided ‘North Eastern Region Power System Improvement Project’ would be implemented in Assam, Meghalaya, Mizoram, Manipur, galand and Tripura at a cost of Rs.5,111 crore,” PGCIL chairman-cum-maging director RN yak told reporters.

He said: “Of the Rs.5,111 crore, 50 percent would be provided by World Bank as a soft loan and the remaining amount would be shared by the central government and the concerned states. The central government funding would be as a grant.”

Of the Rs 5,111 crore, Assam would get the highest share of Rs 1,473.80 crore followed by Tripura (Rs 1,372.20 crore), Meghalaya (Rs 776.93 crore), galand (Rs 729.42 crore), Manipur (Rs 442.22 crore) and Mizoram (Rs 316.76 crore).

The official said that to implement the project, separate agreements would be signed between the PGCIL and the concerned state governments.

He said that about Rs 4,400 crore would also be provided as grant separately by the union government to Aruchal Pradesh and Sikkim to expand infrastructure in the power sector.

PGCIL and the Tripura State Electricity Corporation Limited on Friday signed a memorandum of understanding (MoU) to execute the World Bank-aided project in the state.

Under this World Bank-aided project, over 3,488km long high power transmission lines would be erected and many power transmission sub-stations would be set up besides modernising the existing transmission system.

The Tripura project would be completed within three years. IANS

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