India inks $304 mn AIIB loan agreement for Assam power transmission projects
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The project plans to construct 10 transmission substations, upgrading 15 existing substations, laying transmission lines and building associated infrastructure
This comes in the backdrop of the govt working on improving electricity transmission and distribution architecture for northeastern states
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New Delhi: India on Tuesday inked a $304 million loan agreement with the Asian Infrastructure Investment Bank (AIIB), for improving the power transmission network in Assam.
The Assam intra-state transmission system enhancement project plans to construct 10 transmission substations, upgrading 15 existing substations, laying transmission lines and building associated infrastructure.
Government inks $304 million loan agreement to improve Assam s power transmission network
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The projects will include the construction of 10 transmission substations and laying transmission lines while another 15 existing substations will be upgraded and existing transmission lines will be converted to optical power wire.
AP
The projects seek to address the substantial energy deficits faced by Assam on account of congestion in electricity distribution and transmission networks.
The government has signed a loan agreement worth $304 million with the Asian Infrastructure Investment Bank (AIIB) to strengthen Assam’s electricity transmission system, the finance ministry said in a statement on Tuesday.
February 23, 2021
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The central government and the Asian Infrastructure Investment Bank (AIIB) on Tuesday signed a $304-million loan agreement to fund the Assam Intra-State Transmission System Enhancement Project
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The project aims to strengthen the state’s electricity transmission system by constructing 10 transmission substations and laying transmission lines with the associated infrastructure as well as upgrading 15 existing substations, transmission lines, the Ministry of Finance said in a statement. Additionally, the project will involve upgrading existing ground wire to optical power ground wire.
The total estimated cost of the project is $365 million, of which $304 million will be financed by AIIB while the Assam government will provide counterpart funding of $61 million. The loan comes with a 5-year grace period and a maturity of 24 years. One of the main reasons for the power-deficit scenario in Assam is the congestion of the electricity distribution and transmission
The Centre on Tuesday signed an agreement with Asian Infrastructure Investment Bank (AIIB) for borrowing $304 million (over Rs 2,200 crore) to improve power transmission network in Assam. According to an official release here, the fund will be utilised for the Assam Intra-State Transmission System Enhancement Project , aiming to improve reliability, capacity and security of the power transmission network in the state. The total estimated cost of the project is $365 million, of which $304 million will be financed by the AIIB and rest by the state government, it said. The loan from the AIIB has a five-year grace period and a maturity of 24 years, the release said.
22 February 2021
Author: Editorial Board, ANU
The United States abandoned economic leadership in Asia four years ago. Rather than promote and strengthen the multilateral institutions and frameworks that underpin Asia’s prosperity, the United States under President Trump began systematically undermining them: from the WTO, WHO and Paris Agreement, to military alliances with Japan and South Korea, bilateral trade ties and cooperation in regional forums.
The message that Asian policymakers received was crystal clear: Asia is too reliant on an increasingly unreliable America. The damage from the Trump presidency is likely, sadly, to be permanent.
First, Asian policymakers recognise that Trump was not an accident. He was the product of long-standing deep structural challenges in the US economy and society. Addressing those challenges will be a difficult, long-term proposition. The Democrats winning the White House, House of Representatives and Senate means Biden has more room to man