Concurrent to set up 40 MW hydropower project in Sikkim

May 10, 2010

Concurrent (India) Infrastructure Ltd said on Monday it has entered in a pact with Sikkim Power Development Corp to set up a 40 MW hydropower station at an estimated cost of Rs 111 crore.

Concurrent will put in 51% equity as well as debt in the project while Sikkim Power would put in the rest, it said.

The project has already incurred expenses of Rs 30 crore on preparation of detailed project report, land procurement, construction of approach road, bridge and other civil works, it added.