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The Government has approved the revised cost estimate of a 100-MW gas-based power project being set up in Tripura by North Eastern Electric Power Corporation Ltd (NEEPCO) amounting to Rs 623.44 crore. This includes interest amount of Rs 51.09 crore during construction at November, 2009 price level. A meeting of the Cabinet Committee on Economic Affairs approved the revised estimates, an official statement said.
The project is being developed with a debt-equity mix of 70:30. “While the equity portion shall be met through NEEPCO's internal resources, the debt portion shall be arranged through commercial borrowings,” it said.
The statement added that power generated from the project at Monarchak in West Tripura will be supplied to the home State and will be commissioned by June, 2013. “It would contribute to the economic development of the State by providing 100 MW power and direct and indirect employment to the local population,” it said.
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