India Inks $304 million Loan Agreement with AIIB
The Government of India has signed a loan agreement worth US$ 304 million with Asian Infrastructure Investment Bank (AIIB). The fund is to strengthen Assam’s electricity transmission system.
As per the agreement, loan shall be utilized for construction of 10 transmission substations and laying transmission lines. Also, 15 existing substations will be upgraded and existing transmission lines will be converted to Optical Power Ground Wire (OPGW*).
*OPGW combines the functions of grounding and communications.
The total estimated cost of the project is US$ 365 million, the remaining $61 million will be provided by Assam State Government.