Assam in talks with AIIB for Rs 3,200 crore loan to modernise power infra

The State government of Assam is holding talks with Asian Infrastructure Investment Bank (AIIB) to secure Rs 3,200 crore loan to modernise power infrastructure.

According to a report in BusinessLine, the State government is keen to revamp its archaic electricity distribution system, which is responsible for poor quality of supply and high peak shortage.

During the first half of this fiscal, the North-East reported highest peak shortage of 4.9 per cent, as against a national average of 0.7 per cent, the report said and added that the reasons lie mostly in Assam, which is the largest State in the region.

“APDCL recently approached the Asian Infrastructure Investment Bank (AIIB) for Rs 3,200 crore finance to add 196 substations and other infrastructure,” the report said and quoted a source as saying: “AIIB is evaluating the proposal. We are expecting a positive response in next two month.”

Image Credit : aligarhtimes.com

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