NHPC to sign MoU with Myanmar

Gangtok, Sep 12 (UNI) Giant power developing company National Hydro Power Corporation (NHPC) is all set to make its presence felt in Myanmar.

NHPC Chief Managing Director S K Garg today told mediapersons here that they will be signing MoUs with Myanmar government next week for developing two power projects totalling 1800 MW as joint ventures.

This will be the second foreign outing for NHPC after developing hydro power in neighbouring Bhutan.

Mr Garg said that the MoU will be signed with Myanmar government for 1200 MW Tamanthy and 600 MW Shwzaya projects.

The CMD was in Sikkim for a two-day visit when he called on Governor Balmiki Prasad Singh and Chief Minister Pawan Chamling where he discussed the difficulties faced by NHPC in the Teesta Stage IV (520 MW) and Lachen (210 MW) hydro electric projects.

He sought help from Sikkim government for expeditious completion of balance investigation work to obtain early techno economic clearance and other statutory clearances.

Mr Garg said that NHPC has assured Sikkim government to take care of the interests of the local people and other developmental activities in the state.

Regarding the corporation revenue position, the CMD said NHPC has seen an increase of 33 per cent profit in 2007-08 with a net profit of Rs 1004 crores. The trend of last quarter of 2008 -09 showed a significant growth, he added.

NHPC has given a dividend of Rs. 300 crores to the Union Government.

UNI BG KK RL PM1916