ADB to invest in North-East power projects

Aizawl, Oct 17: The Asian Development Bank (ADB) is working out to invest in some new power projects of North Eastern Region (NER).

According to the ADB sources here the region has potential of producing some 33,140 MW (at 80 per cent load factor) from water sources.

Currently, 20 hydroelectric schemes with an aggregate installed capacity of 1178.7 MW are in operation. In addition, 89 small hydro schemes with total installed capacity of 152 MW are in operation.

At least 46 potential hydro projects with an aggregate installed capacity of 30,959 MW are being considered during 12th Plan, the sources added.

ADB is currently working for development of infrastructure for the projects.

Already the ADB and Ministry Development of North Eastern Region (DoNER) are working on several projects 0 million two-phased North Eastern Urban Development Project.

A meeting in this regards with all the stakeholders under the aegis of the Department of Economic Affairs (DEA) under the Ministry of Finance is scheduled to be held later this month.

The ADB is likely to schedule the work by the end of this year, the sources said adding ADB officials would be frequenting the region in connection with the power projects, where they would make sure that land laws in some of the states would not hamper the proposals.

ADB would also be investing in the North Eastern Trade and Investment Creation Initiative and for which it has already sanctioned 0.6 million dollar for technical assistance to develop an investment framework that would enable the NER to better position itself to participate in the global and regional markets and gain from specialisation, decentralisation and agglomeration economies.

UNI