Loan Agreement signed for Pare Hydroelectric Plant

 Dimapur, Dec. 27 (EMN): The North Eastern Electric Power Corporation Limited (NEEPCO) has signed a Loan agreement and a guarantee agreement for providing additional funding of Euro 20 million for Pare Hydro Electric Plant in Arunachal Pradesh. A press release issued by NEEPCO mentions that the Loan agreement was signed by A.G. West Kharkongor, CMD, NEEPCO and Christoph Kessler, Director, KFW while the guarantee agreement was signed by Sh. S. Selvakumar, Joint Secretary, DEA and Christoph Kessler, Director, KFW, in the presence of H.E. Dr. Martin Ney, Ambassador of Federal Republic of Germany to India, under Indo-German Bilateral Development Cooperation. Further the release mentions that in 2008, NEEPCO had signed a loan agreement with Germany for providing Euro 80 million with Government of India’s Guarantee for the project under Indo-German Bilateral Development Cooperation.