India and Japan signs loan Agreement for Turga Hydel Project

India and Japan signed Loan Agreement worth Rs. 1817 crore for construction of Turga Pumped Storage (I)’ Hydel Project. On completion, this project will contribute to Industrial Development and Living Standard Improvement in the West Bengal.

Key Facts

This loan agreement was signed between Union Ministry of Finance, Government of India and Mr. Katsuo Matsumoto, Chief Representative Japan International Cooperation Agency (JICA). The objective of project is to strengthen capability to respond to fluctuation in supply and demand of power. It also seeks to improve stability of power supply by constructing pumped storage facilities, thereby contributing to industrial development and improvement of Living Standard of people in West Bengal.

Background

India and Japan have long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has steadily progressed, which has further consolidated and strengthened Strategic and Global Partnership between them.

Month: Current Affairs - November, 2018