Mumbai, Oct 15 (UNI) Patel Engineering, a civil infrastructure company, has entered into a Memorandum of Understanding (MoU) with the Arunachal Pradesh government for setting up a 100 MW Gangri Hydro Electric power station in West Kameng district of the state.
The project will be implemented on Built, Own, Operate and Transfer (BOOT) basis for a lease period of 40 years from the commercial operation date.
The state government shall be given free power at the rate of 12 per cent, and expected revenue from the project is to the tune of Rs 120 crore per annum.
Patel Engineering Director Ashwin Parmar said, ''The company is already executing Kameng hydro electric 600 MW project for NEEPCO on cash contract. Therefore the logistic will be easily managed and there will be saving in overhead costs as well.'' UNI