15.4 lakh new workers enrolled under ESI Scheme in February month (See 'Corp Brief') SUFALAM 2025 kicks off, igniting Innovation in Food Processing (See 'Corp Brief') TRAI organises meeting with Joint Committee of Regulators (See 'Corp Brief') WAVES Bazaar unveils 'Top Selects' Lineup Showcasing 15 Projects in 9 Languages (See 'Corp Brief') SEBI's Current Focus - SECRETARIAL AUDIT (See CORP EINSICHT) 3-Day 'India Steel 2025' Kicks Off with Industry-Driven Innovation (See 'Corp Brief') Bhutani inaugurates packaging facility of NCOL in Noida (See 'Corp Brief') Luxury items such as handbags, footwear and wrist watches, priced above Rs. 10 Lakhs, will now attract 10% TCS A&C - High monetary stakes involved in proceedings should not result in unnecessary long oral submissions or concurrent submissions: SC (See 'Legal Desk') Underground Coal Mining gets Boost with New Incentives (See 'Corp Brief') LG Electronics has paused work on IPO of its Indian Unit, partly because of volatility in markets A&C - Notice invoking arbitration u/s 21 of Arbitration and Conciliation Act is mandatory and it is prerequisite to filing an application u/s 11: SC (See 'Legal Desk') CAG entered into agreement with IIM Kozhikode to enhance quality and impact of performance audits through improvements in stakeholder engagement National Commission for STs takes suo motu cognizance of Odisha incident (See 'Corp Brief') Alcoholic Beverage Maker’s body CIABC urged government to introduce uniform taxation and allow promotion of heritage spirits SARFAESI - Appeals filed against procedural orders of Debts Recovery Tribunal do not require pre-deposit as per Sec 18 of SARFAESI Act: SC (See 'Legal Desk') Minimum import price condition for certain synthetic knitted fabrics is not applicable for advance authorisation holders, EOUs and units in SEZ A&C - Once all liabilities & rights are transferred through merger approved by competent forum, arbitration clause contained in loan agreement executed between parties prior to merger can be invoked by third party: HC (See 'Legal Desk') ICAI is examining financial statements and statutory auditor’s reports of Gensol Engineering and its affiliate Blusmart Mobility for FY 24 Ayush and IISc collaborate to institutionalise integrative healthcare (See 'Corp Brief') ED has attached fresh assets worth more than Rs. 1500 crore as part of their money laundering investigation against Sahara Group A&C - Delivery of copy of Award to Power of Attorney holder, who has also represented party in arbitral proceedings, shall be due compliance with Section 31(5) of Arbitartion Act: HC (See 'Legal Desk') BANKBAZAR.COM, a Fintech platform focused on co-branded credit cards and credit score services, has entered into secured lending space with digital-first gold loan product IBC - CIRP cannot be stalled simply on ground of temporary cash flow problems : NCLT (See 'Legal Desk')

Cabinet okays two new 186 & 240 MW hydel projects in Arunachal Pradesh

Published: Nov 26, 2024

By TIOLCorplaws News Service

NEW DELHI, NOV 26, 2024: THE Cabinet Committee on Economic Affairs, has approved investment of Rs.1750 crore for construction of Tato-I Hydro Electric Project (HEP) in Shi Yomi District of Arunachal Pradesh. The estimated completion period for the project is 50 months.

The project with an installed capacity of 186 MW (3 x 62 MW) would produce 802 Million Units (MU) of energy. The Power generated from the Project will help improve the power supply position in the state of Arunachal Pradesh and will also help in balancing of the national Grid.

The Project will be implemented through a Joint Venture Company between North Eastern Electric Power Corporation Ltd. (NEEPCO)  and the Government of Arunachal Pradesh. Government of India shall extend Rs.77.37 crore as budgetary support for construction of roads, bridges and associated transmission line under enabling infrastructure besides Central Financial Assistance of Rs.120.43 crore towards equity share of the State.

The state would be benefitted from 12% free power and another 1% towards Local Area Development Fund (LADF) besides significant infrastructure improvement and socio-economic development of the region.

There will be significant improvement in infrastructure, including the development of around 10 kilometres of roads and bridges, for the project which shall be mostly available for local use. The district will also benefit  from the construction of essential infrastructure such as hospitals, schools, vocational training institutes like ITIs, marketplaces, playgrounds, etc. to be financed from dedicated project funds of Rs.15 crore. Local populace shall also be benefitted from many sorts of compensations, employment and CSR activities.

Moreover, the Cabinet Committee on Economic Affairs, has approved investment of Rs.1939 crore for construction of Heo Hydro Electric Project (HEP) in Shi Yomi District of Arunachal Pradesh. The estimated completion period for the project is 50 months.

The project with an installed capacity of 240 MW (3 x 80 MW) would produce 1000 Million Units (MU) of energy. The Power generated from the Project will help improve the power supply position in the state of Arunachal Pradesh and will also help in balancing of the national Grid.

The Project will be implemented through a Joint Venture Company between North Eastern Electric Power Corporation Ltd. (NEEPCO) and the Government of Arunachal Pradesh. Government of India shall extend Rs.127.28 crore as budgetary support for construction of roads, bridges and associated transmission line under enabling infrastructure besides Central Financial Assistance of Rs.130.43 crore towards equity share of the State.

The state would be benefitted from 12% free power and another 1% towards Local Area Development Fund (LADF) besides significant infrastructure improvement and socio-economic development of the region.

The Project, in line with the aims and objectives of Aatmanirbhar Bharat Abhiyan, would provide various benefits to local suppliers/ enterprises/ MSMEs. During the construction phase, the project will require approximately 200 personnel from NEEPCO and around 400 workers from the contractor. In addition, the project will create significant indirect employment opportunities for the local community through various small contracts and services during its execution. The project would also provide employment during Operation & Maintenance. Furthermore, its development would create employment in sectors such as transportation, tourism, small-scale businesses.

TIOL CORP SEARCH

TIOL GROUP WEBSITES