Germany extends support for NEEPCO project

A Loan agreement and a Guarantee agreement for providing additional funding of Euro20 million was signed for the project ‘Pare Hydroelectric Plant’ under Indo-German Bilateral Development Cooperation.

Germany had signed a loan agreement with North Eastern Electric Power Corporation Limited (NEEPCO) for providing Euro80 million with Government of India’s Guarantee for the project in 2008.

The hydroelectric power is for socio-economic development of the North- Eastern Region.

The agreement was signed by A.G. West Kharkongor, Chairman and Managing Director, North Eastern Electric Power Corporation Limited (NEEPCO) and Christoph Kessler, Director, KFW, in New Delhi on 20 Dec 2017.

The Guarantee Agreement was signed by S. Selvakumar, Joint Secretary, Department of Economic Affairs and Christoph Kessler, Director, KFW. fii-news.com