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Ambassador Jaideep Sarkar hands over the cheques to Lyonpo Lekey Dorji (Photo courtesy: Indian embassy)

India hands over Nu 7.7 billion for hydroelectric projects

Budget: The ambassador of India to Bhutan, Jaideep Sarkar, handed over cheques worth Nu 7.7 billion to the economic affairs minister, Lekey Dorji, on April 13.

Of the total amount, Nu 7.4 billion is for the Mangdechhu hydroelectric project authority and Nu 370 million for the Punatsangchhu I hydroelectric power project. The economic affairs minister is the chairman of both projects.

The economic affairs minister and the ambassador also discussed the progress of the ongoing bilateral hydropower projects of Punatsangchhu I and II, and Mangdechhu, which they agreed was satisfactory. They also agreed to work together to ensure the projects are completed on time.

In the last financial year, the Government of India released a total of Nu 39.6 billion for the three inter-governmental hydropower projects comprising both loan and grant.

In addition, the Government of India has also disbursed Nu 246 million for the Kholongchhu hydroelectric project during the year.

Staff reporter

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Report: Should the new hydropower construction and commissioning of ongoing hydropower projects ensue as scheduled, the country’s economic growth between this and the next fiscal year, is projected to grow at an average of 10.2 percent. This is according to the Royal Monetary Authority (RMA).

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