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Neepco signs MoU for FY13

EM NEWS BUREAU ,  Thursday, April 26, 2012, 14:34 Hrs  [IST]

North Eastern Electric Power Corporation Ltd signed a memorandum of understanding (MoU) with the Union ministry of power for the financial year 2012-13 on March 30, 2012. It was signed by P. Uma Shankar, Power Secretary, Government of India and P.C. Pankaj, Chairman & Managing Director, NEEPCO (left).

Neepco plans to achieve total revenue of Rs.1,242 crore during 2012-13. The target for net profit set for FY13 is Rs.169 crore. The net budgetary support from government of India for FY13 is Rs.134 crore. The Central PSU will make a total investment of about Rs.1,372 crore on various schemes during the year 2012- 13 subject to investment sanctions wherever necessary.

The survey & investigation works for the three hydropower projects in Mizoram for which MOA has been signed will soon begin. These three projects are Lungreng (815 mw), Chhimtuipui (635 mw) and Mat (76 mw). As these projects involve trans-border issues, application seeking clearance of the ministry of external affairs has already been initiated as in under process.

Established in 1976, Neepco has an installed capacity of 1,130 mw, which includes hydropower capacity of 735 mw and thermal capacity aggregating 375 mw. In the XII Plan period, the company has set a target of adding 916 mw of power generation capacity that includes 770 mw from hydropower projects.
 
                 
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