Categories: Agreements

India, AIIB sign agreement to improve Assam power transmission

The Government of India and the Asian Infrastructure Investment Bank (AIIB) has signed a $304 million loan agreement on February 23, 2021, for the Assam Intra-State Transmission System Enhancement Project. The project aims to improve the reliability, capacity and security of the power transmission network in the northeastern state of Assam.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the project:

  • It includes constructing 10 transmission substations and laying transmission lines with the associated infrastructure, upgrade 15 existing substations, and transmission lines and existing ground wire to optical power ground wire and provide technical assistance to support project implementation.
  • The total estimated cost of the project is $365 million. AIIB will finance $304 million while the remaining funding of $61 million will be done by the state government.

Important takeaways for all competitive exams:

  • President of Asian Infrastructure Investment Bank: Jin Liqun.
  • Headquarters of AIIB: Beijing, China.
  • AIIB established: 16 January 2016.

Find More News Related to Agreements

Sumit Arora

Recent Posts

Biggest Stadium in the World By Capacity and Area

Stadiums transcend their roles as mere sports venues; they embody iconic symbols of human achievement…

15 hours ago

Indonesia Evacuates Hundreds Near Erupting Volcano

Hundreds of residents near Mount Ibu, an active volcano on Halmahera island in eastern Indonesia,…

16 hours ago

Shinku La tunnel Work to Begin By Mid-September

India's strategic infrastructure development along its borders, particularly in regions like Ladakh and Arunachal Pradesh,…

16 hours ago

M&M Gears Up For ₹26,000 Crore Investment in Automotive Business

In anticipation of increased demand in the automotive sector, Mahindra & Mahindra Ltd has unveiled…

17 hours ago

India’s Growing Economic Prospects vs. China: UN Expert’s Insights

In a recent briefing on the mid-year update of the World Economic Situation and Prospects…

17 hours ago

Senior IPS Officers A.Y.V. Krishna & N. Venu Gopal Appointed as Additional Directors in CBI

In a significant development, senior Indian Police Service (IPS) officers A Y V Krishna and…

17 hours ago