The Cabinet Committee on Economic Affairs today approved the revised cost estimate of Tuirial Hydro Electric Project (60 MW) in Mizoram by North Eastern Electric Power Corporation Limited amounting to Rs.913.63 crore including Interest During Construction (IDC) of Rs.36.57 crore at March, 2010 Price Level. The financial pattern of the total cost of Rs.913.63 crore comprises of (i) equity of Rs.137.04 crore, (ii) loan from financial institutions amounting to Rs.184.63 crore, (iii) subordinate loan from Government of India amounting to Rs.291.96 crore and (iv) Grant from DoNER amounting to Rs.300 crore. The CCEA also approved conversion of Government of India loan of Rs.15.30 crore into equity and waiver of accumulated interest and penal interest of Rs.16.13 crore on Government of India loan. The project is scheduled to be commissioned in 36 months from the date of investment approval of Revised Cost Estimate (RCE).
The Government of Mizoram have signed a Power Purchase Agreement (PPA) for the purchase of power from this project at CERC rates. The project will help the State of Mizoram / North Eastern Region in mitigating the power shortage with a clean source of energy. Apart from benefits due to power generation, the storage created due to project would contribute to economic development through promotion of fisheries, navigation, tourism etc. The project will improve the hydro-thermal mix in the North Eastern Region and the country.
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