New Delhi, Dec 20 (PTI) A loan agreement for providingadditional funding of euro 20 million was signed today for theproject 'Pare Hydroelectric Plant' under Indo-German BilateralDevelopment Cooperation, an official statement said.
The broad objective of the project is generation ofhydroelectric power for socio-economic development of theNorth Eastern region, the statement said, adding, "The purposeof the project is efficient and ecological friendly generationof electric power."According to the statement, the project will contributeto the economic efficient generation of power and growth inthe North East region and protection of global climate.
In 2008, the statement said Germany had signed a loanagreement with North Eastern Electric Power CorporationLimited (NEEPCO) for providing Euro 80 million with governmentof India's Guarantee for the project 'Pare HydroelectricPlant' under Indo-German Bilateral Development Cooperation.
In a separate statement, the finance ministry said thatJapanese Grant Aid signed for Bengaluru Project for AdvancedTraffic Information and Management.
"The government of Japan has committed Grant Aid of anamount of JPY 1.276 billion (around Rs 72.86 crore) for theproject," it said.
The statement further said project will install anAdvanced Traffic Information and Management System, includingsignaling system and traffic congestion length measurementsensor Bengaluru.
It is expected that this project will contribute tostrengthening connectivity and industrial competitiveness oflocal economy by improving traffic congestion and urbanenvironment, the statement added. PTI BKSMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.