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India Setting Up Fund Of One-Billion Dollars For Trade and Power Development
By KTM Metro Reporter
July 10, 2010: Toboc.com has reported that India is setting up over a billion-dollar sovereign-backed fund for boosting trade and investment in domestic power utilities in South Asian countries that will largely benefit Bhutan. India is aiming at developing a South Asian regional power grid, with focus on renewable sectors such as hydro, solar and wind. It will finance Bhutan’s power plant of 3,000 MW at about the cost of $850 millions, a 400-kv transmission line at $50 millions in Nepal, a 1,000 MW HVDC link in Sri Lanka at $415 millions and a 1,000-MW HVDC back-to-back link in Bangladesh at $220 millions.
Indian and Bhutan had jointly commissioned the Tala Hydro power project in Bhutan in September 2006 and transmits power to North India. The project has helped Bhutan to jack up its economy while India to reduce power shortages in its northern parts. It has prompted India and Bhutan to develop10, 000 MW of hydropower in Bhutan by the year 2020 according to the Toboc.com.
