Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
INDIA

Arunachal Pradesh to Sign MoA with CPSUs to Set up 5 Hydropower Plants

Arunachal Pradesh Cabinet gave approval to a MoA with CPSU for the development of hydropower in the state.

During its 7th meeting of the year, the Arunachal Pradesh Cabinet approved a memorandum of agreement (MoA) with Central Public Sector Undertaking (CPSU) to develop hydropower in the state. The MoA will pave the way for the potential unlocking of five hydroelectric projects with a combined installed capacity of 2820 MW.

The Cabinet believes this will lead to significant investment in the state and generate employment opportunities. The state government will retain ownership of the terminated hydropower projects with an installed capacity of 2823 MW, which will be handed over to two CPSUs as part of the agreement.

Of the five projects, the North Eastern Electric Power Corporation Limited (NEEPCO) will receive two, namely the Naying (1,000 MW) and Hirong (500 MW) projects. In contrast, Satluj Jal Vidyut Nigam Limited will receive Emini (500 MW), Amulin (420 MW), and Minundon (400 MW) projects.

The projects will require a total investment of Rs 40,000 crore over the next five to seven years, with an expected revenue of around Rs 500 crore per year and Rs 100 crore for local area development (LAD).

The Cabinet also approved an action plan to commence work on 13 priority projects with a generation capacity of 12,343 MW. This would require an investment of Rs 1.5 lakh crore and generate revenue of Rs 2,000 crore for the state and Rs 350 crore per year for LAD. Arunachal Pradesh aims to contribute significantly towards India’s commitment to increasing non-fossil energy capacity to 500 gigawatts through these projects.

Additionally, the Cabinet approved the recall of the appointment orders of the Chairman and Members of the Arunachal Pradesh Public Service Commission (APPSC) and recommended the same to the Governor.

The Cabinet further approved the renewal of the MoA and support for four events – Arunachal Got Talent, Arunachal Idol, Miss Arunachal, and Mr Arunachal – as annual calendar events from the fiscal year 2023-24 with an increased grant-in-aid of Rs 80 lakh from the existing Rs 40 lakh. These events have nurtured a significant pool of talented youths representing the state nationally.

Finally, the Cabinet approved a major part of the Kaling Tayeng Committee’s recommendation on restructuring the state civil service. The Cabinet also approved investing revenue generated by the state government from the power sector in government bonds for the development of Arunachal Pradesh.

Get Daily Prediction & Stocks Tips On Your Mobile