business-india-news

ADB to fund hydropower project in Himachal

Shimla, Dec 3 : Himachal Pradesh will soon get another tranche of a multimillion-dollar loan from the Asian Development Bank (ADB) for the construction of a hydropower project, a minister said here Tuesday.


"ADB has agreed in principle to finance the 48 MW Surgani Sundla hydro-electric project in Chamba district," Power Minister Sujan Singh Pathania told reporters here.

The state-run Himachal Pradesh Power Corporation (HPPCL) Managing is executing the Surgani Sundla project.

Pathania said a decision to finance the project was taken a meeting with Takesshi Shiihara, portfolio management specialist of the energy division, South Asia department of the ADB, here.

Pathania urged Shiihara to speed up the process of $67.9 million for Surgani Sundla project being constructed in the downstream of Baira Suil hydropower project.

The ADB is currently funding $800 million loan under the Himachal Pradesh Clean Energy Development Investment Programme for the four hydel projects being constructed by HPPCL.

These are: the 111 MW Sawra Kuddu project in Shimla district, 195 MW Kashang project in Kinnaur district, 100 MW Sainj in Kullu district and 450 MW Shongtong-Karcham project also in Kinnaur.

The minister said discussions were also held on Tranche-IV loan of $315 million for the Shongtong-Karcham project. This loan is being funded under the investment programme to establish a sustainable power sector in the state in order to improve its finances.

--IANS (Posted on 03-12-2013)

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