Monday, December 4, 2023

Centre allows 100 per cent FDI in NE power sector


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AGARTALA: The Union Government has allowed cent per cent Bangladeshi investment in power sector of Northeast, Ministry of External Affairs (MEA) officials said here on Monday.

According to MEA officials, the decision of Foreign Direct Investment (FDI) especially from Bangladesh was considered following expression of interest of Bangladesh Prime Minister Sheikh Hasina in participating in 726 MW gas-based combined cycle mega power project in Palatana in South Tripura during her recent Tripura visit.

“India and Bangladesh had agreed to promote trans-border cooperation in the management of shared water resources, hydro-power potential and eco-systems and in the area of connectivity during the last visit of Prime Minister Dr Manmohan Singh to Bangladesh in September last,” officials stated.

It was also agreed that arrangement for cooperation in the generation, transmission and distribution of electricity, including from renewable sources would be established, officials said, adding India has a liberal policy in permitting 100 percent FDI in respect of project relating to electricity and participation of Bangladesh in this regard would be welcomed.

The officials, however, mentioned that joint ventures in power sector involving the two countries would also facilitate the evacuation of power from Northeastern region to Bangladesh, and through Bangladesh to other parts of India.

The detail of the issue would be discussed in the forthcoming secretary-level meeting of both the countries.

The first unit of 726 MW Palatana power project in South Tripura will be coming up by May 2012. (UNI)

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