For improving the North-eastern region's power transmission network, Power Grid Corporation of India (PGCI) has signed an agreement with six states, including Assam and Manipur. The total cost for the project has been estimated at Rs 8,150.07 crore and the World Bank has agreed to lend a major portion of the sum.
PGCI said in a statement on June 10 that it has signed agreements with six Northeastern Region (NER) states- Assam, Meghalaya, Mizoram, Manipur, Nagaland and Tripura-to provide its technical and managerial support for improvement in their respective intra-state transmission and distribution systems. The signing of the agreement took place in the presence of P Uma Shankar, Secretary (Power), RN Nayak, CMD, Power Grid and other senior officials from Ministry of Power, etc.
The statement added that these projects will improve grid connectivity and enhance states' capability to supply power to larger section of consumers with economy and reliability. Power Grid, the Central transmission utility, been appointed as 'Design cum Implementation Supervision Consultant' by Ministry of Power.
The World Bank has agreed to consider an umbrella loan covering 85 per cent of the total project cost in three tranches of $500 million each. States shall be contributing 5 per cent of the cost as equity. The remaining 10 per cent of the cost will be provided by Centre.
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