India, Japan sign loan agreement for development project in West Bengal

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958.

Published: 03rd November 2018 02:17 PM  |   Last Updated: 03rd November 2018 02:17 PM   |  A+A-

Pen

For representational purposes

By ANI

NEW DELHI: India and Japan on Friday signed a loan agreement of Rs 1,817 crore for the construction of the Turga Pumped Storage in West Bengal.

The deal was signed by the Additional Secretary of the Department of Economic Affairs (DEA), C.S. Mohapatra, and Katsuo Matsumoto, chief representative of the Japan International Cooperation Agency (JICA).

The objective of the project is to strengthen the capability to respond to fluctuation in supply and demand of power and to improve the stability of the power supply by constructing pumped storage facilities, thereby contributing to industrial development and improvement of living standards in the state of West Bengal.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958.

In the last few years, the economic cooperation between India and Japan has steadily progressed. This further consolidates and strengthens the strategic and global partnership between India and Japan.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp