SBI to invest in micro-hydel power projects in Asom

Guwahati, May 15 (UNI) The State Bank of India (SBI) will invest in micro-hydel power projects in Asom, which have been thrown open to Public Private Partnership (PPP) recently.

Disclosing this to reporters here today, SBI Chairman O P Bhat said, ''If the SBI is approached with viable projects, we will go ahead with funding it.'' He had held talks over the issue with the state Governor and the Chief Minister earlier in the day.

Mr Bhat said ''There has been no specific proposal now, but if there is any proposal, the SBI capital investment company will access it and accordingly, we will fund the power projects.'' ''The SBI is concerned with the economic viability and technological feasibility, not with the ownership structure,'' he added.

Stressing on the need to boost the power sector for attracting industries to the state, the SBI chairman said, ''It is due to this factor that the state government as well as the SBI are laying much importance to the power sector.'' He said the Look East policy and the new industrial policy for North East would attract investment for the region and this would lead to a growth in demand for power.

On the role the SBI, which has the largest network in NE with 461 branches, would play in NE, Mr Bhat said, ''We are involved with funding in all segments, including agriculture, small scale and cottage industries, corporate sector. We will expand our involvement further.'' The tourism sector, which is a major revenue earning field, could also see SBI involvement in a bigger way, with the largest nationalised bank contemplating funding hotels, theme parks, boats and tourist taxis, he informed.

The SBI chief pointed out that though many new banks were opening branches in NE, they were concentrating on the capital cities alone.

''However, the SBI is committed to reach the farthest corners of the region and more branches will be opened soon,'' he added.

UNI