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  1. Pare Hydroelectric Plant: Pact singed for additional funding

Pare Hydroelectric Plant: Pact singed for additional funding

A loan agreement for providing additional funding of euro 20 million was signed today for the project 'Pare Hydroelectric Plant' under Indo-German Bilateral Development Cooperation, an official statement said.

By: | New Delhi | Updated: December 21, 2017 1:27 AM
loan agreement, pare hydroelectricity plant, hydroelectric power, socio-economic development, economic efficient According to the statement, the project will contribute to the economic efficient generation of power and growth in the North East region and protection of global climate. (Representative Image)

A loan agreement for providing additional funding of euro 20 million was signed today for the project ‘Pare Hydroelectric Plant’ under Indo-German Bilateral Development Cooperation, an official statement said. The broad objective of the project is generation of hydroelectric power for socio-economic development of the North Eastern region, the statement said, adding, “The purpose of the project is efficient and ecological friendly generation of electric power.” According to the statement, the project will contribute to the economic efficient generation of power and growth in the North East region and protection of global climate.

In 2008, the statement said Germany had signed a loan agreement with North Eastern Electric Power Corporation Limited (NEEPCO) for providing Euro 80 million with government of India’s Guarantee for the project ‘Pare Hydroelectric Plant’ under Indo-German Bilateral Development Cooperation. In a separate statement, the finance ministry said that Japanese Grant Aid signed for Bengaluru Project for Advanced Traffic Information and Management.

“The government of Japan has committed Grant Aid of an amount of JPY 1.276 billion (around Rs 72.86 crore) for the project,” it said. The statement further said project will install an Advanced Traffic Information and Management System, including signaling system and traffic congestion length measurement sensor Bengaluru. It is expected that this project will contribute to strengthening connectivity and industrial competitiveness of local economy by improving traffic congestion and urban environment, the statement added.

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