SHILLONG, JUNE 28: Meghalaya cabinet has asked the Meghalaya Electricity Corporation Limited (MeECL) to present a power point presentation to its request for to the state government to stand guarantee up to Rs 1400 crore for building infrastructure and other projects it will be undertaking.
Chief minister Mukul Sangma told reporters after the cabinet meeting on Friday, , “The MeECL has submitted a proposal to the state government asking it to be its counter guarantor for the loans which it plans to take from the different financial institutions for its capital to start the projects.,”
Sangma however felt the corporation must bring down the losses of around 30 per cent.
“The losses faced by MeECL are at the end reflected at the tariff which the consumers pay” Sangma said.
Sangma also informed that bidders who had bid for the proposed Ganol project, quoted very high rate. He said a report in this regard has been sought from the concerned department so that he could study it in details and accordingly take a decision.
Sangma also revealed the government’s might submit a proposal to the NEEPCO for a joint venture with the MeECL for the developing a 240 Mega Watt Power Project in the Meghalaya border.
Sangma said, “I have had discussions with the NEEPCO chairman for developing 240 mw power project on joint venture mode with MeECL which will be the first of its kind between the state government and the centre.”
The project will be along the Assam-Meghalaya border in Karbi Anglong district. Sangma said Meghalaya will get total share from the project if a joint venture for the project comes through. – By Our Reporter
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