Uttarakhand government signed a $150 million loan agreement with ADB

Uttarakhand government has signed a $150 million loan agreement with the Asian Development Bank (ADB) for hydropower development in Uttarakhand, the multilateral funding agency today said.

This is the fourth tranche of the loan under the Uttarakhand Power Sector Investment Programme that will help develop infrastructure for a new 400 kV (kiloVolt) substation at Pipalkoti and a transmission line from Srinagar to Kashipur at 400 kV level in Uttarakhand, ADB said in a release.

The fund will be utilized for a new 400 kV substation at Pipalkoti, and a transmission line from Srinagar to Kashipur at 400 kV level in Uttarakhand.