NEW DELHI, Dec 17 - Teesta hydro power project, which was stalled for seven years, is back on track as the work on the power plant in Sikkim started on October 1, Union Power Minister Piyush Goyal said.
�Teesta in Sikkim, stalled for seven years, back on track. On October 1, work started after Rs 9,000 crore of investment. 93 per cent investment was done earlier,� Goyal tweeted today.
Earlier in September this year, he had said that the government will very soon resolve the issues related to Teesta power project in Sikkim which was holding back an investment of around Rs 9,000 crore.
The project commonly known as Teesta III is being implemented by Teesta Urja Ltd. The company is developing the 6 x 200 MW Teesta Stage-III Hydro Electric Power Project on Teesta river. The project will generate 5,214 Million kWh (units) annually in 90 per cent dependable year, as per information provided.
A senior official of one of the companies that invested in the project said that the first unit (200 MW) of the project is expected to be commissioned in March 2017. The unit was to be commissioned in 2013 but got delayed due to earthquake in 2011 and issues among promoters. Sikkim Government holds 51 per cent equity in the project followed by Singapore-based Asia Genco Pte (37 per cent) and PTC India (8 per cent). � PTI
