Centre signs agreement with AIIB for $304million loan for power transmission project in Assam

The central governmenthas signed an agreement with the Asian Infrastructure Investment Bank (AIIB) for the Assam Intra-State Transmission System Enhancement Project

The estimated cost of the project is $365 million, of which $304 million will be borrowed from AIIB and the remaining will be financed by the state government. The loan from AIIB has a grace period of five years and a maturity of 24 years. The project aims to construct 10 transmission substations and lay transmission lines, as well as upgrade 15 existing substations, transmission lines and the existing ground wire to optical power ground wire.