Assam govt signs MoU with ILFS in power sector

Guwahati, July 20 (UNI) The Asom government has floated a special purpose joint-venture company with Infrastructure Leasing and Finance Services (ILFS) for accelerating investment in the power sector of the state.

Informing this at a press meet here today, state Power Minister Pradyut Bordoloi said the MoU was signed on July 18 at the Chief Minister's office here between the ILFS MD and the state Power secretary.

The company, which is yet to be named, would have a capital base of Rs 10 crore, with an equal investment of Rs five crore each of both the parties.

The joint venture company would work out the technical details for setting up power projects in the state and the bidding would also be called through it.

The ILFS had previously signed a MoU with the Bodoland Territorial Council (BTC) and work on the Champawati project under the joint venture is on.

The minister said bidding for the project was called by the ILFS and BTC joint company in record period.

Mr Bordoloi said the new joint venture company between the government and the ILFS would accelerate growth of the power generation sector in the state and bring in professionalism.

It would work the details of various projects, including the proposed thermal-based projects at Badarpur (150 MW) and at Borgalai (200 MW).

He informed that the state Cabinet has decided to go for a joint venture with any private party, along with the Asom State Electricity Board (ASEB), for the 160 MW Lower Kopili power project.

He said the joint ventures were in line with the state government's attempt to open up the power sector to the private sector and bring in greater investment and rapid development to the state.

The Minister said the thrust on increased power generation was part of the power sector reforms the state government had set in motion since 2004, which were starting to yield results now.

UNI