Investments in power in MoU with Indian Government

June 2, 1997 In India, the North Eastern Electric Power Corporation has signed a Memorandum of Understanding with the Government for 1997-98 for investment in various schemes during the period. The NEEPCO, the premier agency responsible for the development of the Indian North Eastern region, proposes to invest Rs. 360.98 crore on projects such as, Agartala Gas Turbine Project, Assam Gas Based Power Project, Kopili etc. The Corporation plans to add a generation capacity of 174 MW during the period and produce 1825 mm units of power. The Corporation is expected to achieve a sales revenue of Rs. 207.67 crore and a net profit of Rs. 12.03 crore during the year. On its part, the Government will provide a net budgetary support of Rs. 264.01 crore out of the planned expenditure. The Government would also support the efforts of the corporation for the conclusion of power purchase agreements and opening of Letters of Credit, for electricity supplied from the respective projects to the beneficiary states, in the region.