The Union government on Tuesday approved an investment of Rs 8146.21 crore for the construction of a 700 MW Tato-II hydro-electric project in Shi Yomi District of Arunachal Pradesh. The estimated completion period for the project is 72 months, an official statement said.
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Tuesday approved investment of Rs 8,146.21 crore for the construction of Tato-II Hydro Electric Project (HEP) in Shi Yomi District of Arunachal Pradesh, it stated.
The project with an installed capacity of 700 MW (4 x 175 MW) would produce 2,738.06 million units of energy. The power generated from the project will help improve the electricity supply position in the state of Arunachal Pradesh and will also help in balancing the national Grid. The Project will be implemented through a Joint Venture Co. between North Eastern Electric Power Corporation Ltd (NEEPCO) and the Government of Arunachal Pradesh.
Government of India shall extend Rs 458.79 crore as budgetary support for the construction of roads, bridges and associated transmission line under enabling infrastructure besides Central Financial Assistance of Rs 436.13 crore towards equity share of the state. The state would benefit from 12 per cent free power and another 1 per cent towards Local Area Development Fund (LADF), besides significant infrastructure improvement and socio-economic development of the region.
There will be significant improvement in infrastructure, including the development of around 32.88 kilometres of roads and bridges, for the project, which shall be mostly available for local use. The district will also benefit from the construction of essential infrastructure, including hospitals, schools, marketplaces, and playgrounds, to be financed from dedicated project funds of Rs 20 crore. Local populace shall also be benefited from many sorts of compensations, employment and CSR activities, the statement said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
