The Cabinet Committee on Economic Affairs today approved the revised cost estimate of Tuirial Hydro Electric Project (60 MW) in Mizoram by NEEPCO amounting to Rs 913.63 crore, including interest during construction (IDC) of Rs 36.57 crore, an official statement said.
The project is scheduled to be commissioned in 36 months from the date of investment approval of revised cost estimate.
The Tuirial project was initially taken up as a central sector scheme by NEEPCO and the project investment of around 369 crore was approved in July 1998.
Mizoram has signed an agreement for purchase of power from this project at Central Electricity Regulatory Commission (CERC) rates.
The project will help the state in mitigating the power shortage with a clean source of energy.
The financial pattern of the total cost of Rs 913.63 crore comprises equity of Rs 137.04 crore, loan from financial institutions amounting to Rs 184.63 crore, subordinate loan from the government amounting to Rs 291.96 crore and Grant from DoNER (Department of North Eastern Region) amounting to Rs 300 crore.
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