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Web Exclusive | May 2013

NEEPCO mulls Rs 21 bn investment in FY14

Shillong-based North Eastern Electric Power Corp plans to invest about Rs 2,089.85 crore on various schemes during 2013-14, the company's Memorandum of Understanding (MoU) with the Power Ministry reveals.

The public sector firm, which has an installed generation capacity of 1,130 mw, operates five hydro and two thermal power plants in the north east.

The firm received assurance from the power ministry for assistance in getting projects both in India and abroad. It may be noted that the firm wants government to provide adequate security at its vital installations, according to the MoU. The law and order remains a serious problem due to continued insurgency in the North East region. NEEPCO faces extreme difficulty in executing the project works in an insecure atmosphere for the work force, the MoU says.

Also, assistance would be provided to NEEPCO in obtaining soft long term bilateral and multilateral external financial assistance for projects in the North East, the MoU said.

NEEPCO accounts for over 50 per cent of total capacity in the North East region. In 2013-14, the power producer excepts to garner total revenue of 1,315.40 crore while the profit is projected to be Rs 218.35 crore.

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