IMPHAL, Feb 12: A memorandum of understanding for formation of a joint venture company between government of Manipur, NHPC Ltd. and SJVN Ltd. for implementation of Tipaimukh Hydro Electric Multipurpose Project (6x250MW) in Churachandpur & Tamenglong districts of Manipur has been finalised in a meeting held on February 10 under the chairmenship of chief minister Okram Ibobi Singh at Imphal.
The MoU will be signed shortly by the principal secretary (power), Government of Manipur, chairman & managing director, NHPC Ltd. and chairman & managing director, SJVN Ltd. at Imphal. A statement issued by the state power department said the cost of the project as on September, 2008 price level is Rs 8138.79 crore.
The equity share participation of the three partners in the joint venture will be 5 percent for government of Manipur, 69 percent for NHPC and 26 percent for SJVN Limited. With the finalization of the MoU and its subsequent signing the implementation of the project is likely to be started soon, the statement added.(IFP)
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