Manipur's government has secretly struck an investment deal with a number of state-run organisations for setting up the controversial hydroelectric power plant and Tipaimukh dam on India's Borak River.
BBC said in a report that the agreement was signed on Oct 22 between the State Government of Manipur and hydro developers Satluj Jal Vidyut Nigam Ltd and NHPC (formerly known as the National Hydroelectric Power Corporation Limited) at New Delhi under major wraps.
The deal would see the setting up of a joint company, which will be responsible for the construction of the dam and the power plant, the report said.
hydroworld.com, a website catering to the hydroelectricity industry, said that the deal had been signed and that the agreement states that NHPC will own 69 percent of the company, SJVN will own 26 percent and the Manipur government will own five percent.
BBC quoted Manipur government's irrigation and flood control minister N Biren Singh as saying, "The government's policy is very clear, the Tipaimukh project shall be implemented. It will be funded with aid from the central government, specially the Ministry of Development of Northeastern Region (DoNER)."
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