Rs 150-cr PFC loan likely for Karbi Langpir project

AMTERENG, September 8: The much-talked-about Karbi Langpi Hydro Electric Project of the Assam State Electricity Board (ASEB) may become functional soon with the possible infusion of a Rs 150-crore loan for its revival by the Power Finance Corporation (PFC). The state power minister, Hitendranath Goswami, who was on a day-long visit to the project site, said the PFC has agreed in principle for disbursing the loan amount at 9 per cent interest rate. "But prior to its actual disbursement, ASEB must fulfil certain conditions which might prove somewhat difficult for the board under its present circumstances though efforts are on for meeting them at the earliest," he assured. Out of the total amount, 30 per cent would have to be provided by the state government while the rest would come from the PFC. The PFC has agreed to release Rs 7.5 crore of the loan very soon for preliminary expenditure.