Govt. and AIIB sign loan agreement for USD 304 million Assam Intra-State Transmission System Enhancement Project

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International News

Feb 23, 2021

7:08PM

Govt. and AIIB sign loan agreement for USD 304 million Assam Intra-State Transmission System Enhancement Project

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Union Government and the Asian Infrastructure Investment Bank (AIIB) today signed a loan agreement for a 304 million dollar Assam Intra-State Transmission System Enhancement Project to improve reliability, capacity and security of the power transmission network in the State of Assam. The project aims to strengthen Assam’s electricity transmission system by constructing 10 transmission substations and laying transmission lines, upgrading 15 existing substations and providing technical assistance to support project implementation.

The programme would strengthen the existing intrastate transmission network of Assam by augmenting it with newer networks to achieve affordable, secure, efficient and reliable round the clock power. This would, in turn, bring Assam closer to ensuring long-term sustainability of its electricity supply.

The loan agreement was signed by Joint Secretary in the Ministry of Finance Baldeo Purushartha and Acting Director General, Investment Operations Rajat Misra on behalf of the AIIB. Mr Purushartha said that the project is expected to improve the transmission network and reduce transmission losses. The total estimated cost of the project is USD 365 million of which USD 304 million will be financed by the AIIB.