Tripura signs the biggest ever agreement for ADB assisted Power Project of Rs 2,275 Cr ($275 Million)

Tripura’s Deputy Chief Minister and Power Minister Jishnu Debbarma said that the state government signed an agreement with the Asian Development Bank (ADB) for `Tripura Power Distribution Strengthening and Generation Efficiency Improvement Project’, which is valued at Rs 2,275 crore (US $275 Million).

While addressing a press conference on Saturday at the civil secretariat he said “It is a historic moment for Tripura and its people. This power project has the highest investment package in Tripura’s power sector. It is also the largest single project in any infrastructure sector in Tripura’s history.”

On this eve of New Year, the State Government conveys its warm and season’s greeting of the New Year 2023 to the people of Tripura.

The Hon’ble Prime Minister had set the target of making India a developed nation by 2047, which includes ensuring “Power for all”. The Government of Tripura is working tirelessly to contribute to this vision of the Hon’ble Prime Minister.

Yesterday, the State Government has signed project agreement with the Asian Development Bank (ADB) for Rs 2,275 Cr (US$275 Million) Tripura Power Distribution Strengthening and Generation Efficiency Improvement Project’.

It is a historic moment for the State of Tripura and its people as the is Power Project is the highest investment package in the power sector of Tripura. It is also the biggest single project in the history of Tripura in any Infrastructure Sector.

The project will have Rs 1820 Cr ($220 million) loan from ADB and Rs 455 Cr ($55 million) of direct investment by the State Government in power Sector. Project will improve energy security, quality of supply, efficiency, and resilience of power sector in Tripura.

State Government expresses its gratitude to the M/o Finance, Government of India, and the Asian Development Bank for making this possible and approving and giving such a huge gift to the people of Tripura on the beginning of New Year.

The Project agreement wassigned between Shri Brijesh Pandey, Secretary, Power Department on behalf of Government of Tripura and Shri NilayaMitash, Officer-in-Charge of ADB’s India Resident Mission,

This project will support the Government of Tripura’s efforts to strengthen its power sector by replacing inefficient power plants and strengthening the distribution by reduced network losses and to meet increasing demand of electricity to boost the state.