Concurrent Infrastructure said that it is set to sign a deal with Sikkim Power Development Corporation through PPP model to develop a 40MW hydropower project at Labdang in Sikkim.
The total cost estimated by Sikkim Power Development is INR1.11bn. Out of this INR300m is already spent on developing preparation of DPR, procurement of land and statutory clearances, access road and bridge at site, 30mt tunnel and for the other civil works.
Out of the total cost of work, Sikkim Power Development will bear 49% of debt and equity and rest will be contributed to the extent of 51% by Concurrent.
Sudhir Babu, director and CEO of Concurrent Infrastructure, said: “With this Concurrent we will have a foot hold in Sikkim. As per estimations, in Sikkim hydro potential is 9000MW out of which only 4000MW has been alotted. This gives us a chance to strengthen our self in hydro power.”