NEEPCO signs MoU with PFC for Rs 2000 cr loan

GUWAHATI, July 13 ? The North Eastern Electric Power Corporation (NEEPCO) has signed a Memorandum of Understanding (MoU) with the Power Finance Corporation (PFC) for a Rs 2000 crore loan for the execution of the 600 MW Kameng Hydropower project in Arunachal Pradesh and 280 MW gas based power project in Tripura. A NEEPCO release said that the Kameng project would be completed in five years and the gas-based project in Tripura would be completed within the Eleventh Five Year Plan. The completion of these two projects would completely meet the power requirement of the North Eastern region and the excess power would be exported to the Northern grid. The NEEPCO has tied up with the NE States and Haryana for the sale of power from these projects, the release said. The release further said that the NEEPCO has also taken up projects in Uttaranchal and the target is to complete 15,000 MW of projects within the next 20 years.