Patel Engineering signs MoU with Arunachal govt for 100 MW project
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