Nov 8 2016 | India Opportunities

Second tranche loan of $48 Million Loan approved for Assam’s Power Distribution System

With the aim to improve the power distribution system in the state of Assam, the Asian Development Bank (ADB) and Government of India has signed a $48 million loan agreement. This is the second tranche loan of the $300 million multi tranche financing facility approved by the ADB Board in July 2014 for the Assam Power Sector Investment Program. The project aims to enhance capacity and efficiency of its power distribution system to improve electricity service to end users.

“Given that a sustainable power supply is critical for facilitating growth and creating employment opportunities, this project will help Assam attract investment and tap its economic potential, in addition to reducing power outages,” said Raj Kumar, Joint Secretary (Multilateral Institutions) in the Ministry of Finance, who signed the agreement for Government of India. Ms Z. Rahman Ahmed, Secretary (Power), Govt. of Assam, signed the loan agreement on behalf of the state government along with Mr. P. Gupta, MD, Assam Power Distribution Company Ltd (APDCL).
The project is targeted to complete by December 2019.

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