ADB sanctions 300 million dollar to Uttaranchal for power projects

Dehra Dun, May 28 (UNI) Asian Development Bank has sanctioned 300 million dollars to Uttaranchal under State Power Sector Investment Programme in which 30 per cent share would go to the state with the ADB keeping 70 per cent.

''250 million dollars has been sanctioned towards unified power transmission system, 45 million for the construction of new hydro-power projects and 5 million towards power enhancement of the projects, ''ADB specialist Mr Danmillison said during his meeting with the Chief Minister N D Tiwari today at the CM's residence.

''With Asian Development Bank sanctioning 300 million dollar to Uttaranchal , a dream to make the state an ''Urja Pradesh'' has received a boost as it would help in strengthening unified power transmission system and further initiating new hydro-power projects in the state,'' said Chief Minister N D Tiwari. He added that more than 20,000 megawatt projects had been identified and help was being taken from various financial institutions to run them. He further expected from the Asian Development Bank a sanction of financial aid worth Rs 1125 crore for the first phase of river valley hydro power project at rivers Yamuna, Bhagirathi and Alaknanda and Rs 2300 crore for second phase of Sharda River Valley hydro-power project at the earliest. He said along with the initiation of new hydro power projects ,the state government was also working towards the revival of traditional power sources. ''For the modernisation of 10,000 water mills under 11th five year programme we need financial aid of Rs 200 crore,'' he said.

UNI/LPT ARB VV1610