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The Union Cabinet today gave its approval for revised cost to completion of ongoing 1020MW Tala Hydroelectric Project in Bhutan at Rs.4124 crore on agreed terms and conditions by the two Governments, comprising :
Rs. 2474.4 crore equivalent to 60% of the estimated cost to completion as grant and Rs. 1649.6 crore equivalent to 40% of the estimated cost to completion as loan. The loan shall carry an interest rate of 9% per annum and shall be re-payable in twelve equated annual instalments, the first repayment commencing from the date of commercial operation.
It will provide approximately 1020 MW peaking power to the Eastern Grid of India and provide 3962 million units of electricity annually in 90% dependable year and 4865 million units in an average year.
It will closely integrate the economy of Bhutan with that of India and further strengthen Indo-Bhutan cooperation in the development of water resources in Bhutan.
The project is expected to be commissioned by June 2006.
DS/HK/LV
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