India, AIIB signal settlement to enhance Assam energy transmission

The Government of India and the Asian Infrastructure Investment Bank (AIIB) has signed a $304 million mortgage settlement on February 23, 2021, for the Assam Intra-State Transmission System Enhancement Project. The undertaking goals to enhance the reliability, capability and safety of the facility transmission community within the northeastern state of Assam.

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About the undertaking:

  • It consists of setting up 10 transmission substations and laying transmission traces with the related infrastructure, improve 15 current substations, and transmission traces and current floor wire to optical energy floor wire and supply technical help to help undertaking implementation.
  • The complete estimated price of the undertaking is $365 million. AIIB will finance $304 million whereas the remaining funding of $61 million will likely be completed by the state authorities.

Important takeaways for all aggressive exams:

  • President of Asian Infrastructure Investment Bank: Jin Liqun.
  • Headquarters of AIIB: Beijing, China.
  • AIIB established: 16 January 2016.

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