Tripura signs the biggest ever agreement for ADB assisted Power Project of Rs 2,275 Cr

By  Firstdespatch Desk   Dec 31, 2022

Agartala, Dec 31 (FD) As a token of new year bonanza for the people of Tripura the state has signed the biggest ever agreement for ADB assisted Power Project of Rs 2,275 Cr, State Power Minister Jishnu Deb Varma said today.

The agreement was signed Yesterday, Deb Varma, who is also the Deputy Chief Minister of the State said adding, Government has signed project agreement with the Asian Development Bank (ADB) for Rs 2,275 Cr (USS275 Million) Tripura Power Distribution Strengthening and Generation Efficiency Improvement Project'.

“It is a historic moment for the State of Tripura and its people as the Power Project is the highest investment package in the power sector of Tripura. It is also the biggest single project in the history of Tripura in any Infrastructure Sector”, he said.

The project will have Rs 1820 Cr ($220 million) loan from ADB and Rs 455 Cr ($55 million) of direct investment by the State Government in power Sector. Project will improve energy security, quality of supply, efficiency, and resilience of power sector in Tripura State Government expresses its gratitude to the M/o Finance, Government of India, and the Asian Development Bank for making this possible and approving and giving such a huge gift to the people of Tripura on the beginning of New Year.

The Project agreement was signed between Shri Brijesh Pandey, Secretary. Power Department on behalf of Government of Tripura and Shri NilayaMitash, Officer-in-Charge of ADB's India Resident Mission,

This project will support the Government of Tripura's efforts to strengthen its power sector by replacing inefficient power plants and strengthening the distribution by reduced network losses and to meet increasing demand of electricity to boost the state economy.  The project will benefit about 5 lakh consumers through improved power supply and reliability. The project will generate about 6000-6500 jobs directly or indirectly in the state. FD SB JK