New Delhi, Feb. 15: Mizoram has approached the Asian Development Bank (ADB) to fund the Bairabi hydel project. The 80-MW project is expected to help the state become self-sufficient in power. The Bairabi project, likely to cost Rs 570 crore, was cleared by the Union ministries of power and environment last year.
Mizoram chief minister Zoramthanga said the state had approached the bank, as it was the fastest and easiest way to get the money. The entire amount of power generated can be utilised by the state. Zoramthanga said the ADB?s response has been positive and the Union ministry of finance, too, has given the green signal. The Centre has to act as guarantor whenever any international agencies offered loans.
Mizoram is currently deficient in power and its requirement is met by importing from the central sector generation stations, including the Rokhia II station in Tripura. Renovation of diesel generating plants at Tuirivang, Khawiva and Serlui are under way, while the Turial hydel project is under construction.
A Mizoram government official, however, said the sate had kept open the option of taking loans from other financial institutions and any further decision would depend upon the response from the ADB.
At the recent North East Business Summit, the ADB had announced that it was willing to invest $1 billion in the region in the form of loans and grants. ADB country director Louis de Jonghe had stated that the projects would cover several states of the region. This is the second time the state is availing of loans from international finance agencies.
The World Bank is funding several ongoing projects on roads, health and technical education worth over $800 million in the state.
According to an estimate carried out by the Central Electricity Authority, Mizoram has the capacity to generate 3,000 MW. During the 10th Five Year Plan, 1,870 MW is supposed to be added by harnessing the state?s rivers.
The chief minister said the survey for the 600-MW hydel project on Kolodyne river, the largest hydel project in the state, has been completed. The states receive a royalty of 12 per cent states from projects that are constructed by central agencies like the NHPC or Neepco.