NEEPCO Current Affairs - 2020

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Strategic Disinvestment of BPCL and 4 other PSUs

The Cabinet of PM Narendra Modi approved disinvestment of BPCL along with Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Tehri Hydro Development Corporation India Limited (THDCIL) and North Eastern Electric Power Corporation Limited (NEEPCO). The GoI has agreed to sell its stakes in the above PSUs

Highlights

The GoI plans to sell 53.3% of its stake of BPCL, 63.8% of SCI and 30.8% of CONCOR to strategic buyers. 74.2% of its stake with THDCIL and 100% of NEEPCO is to be sold to NTPC.

In the disinvestment process the Numaligarh Refinery Limited operating under BPCL is excluded.

Disinvestment plan

The Government had set a disinvestment target of 1.05 lakh crore rupees for the financial year 2019-20. So far, it has collected 17,364 crores as on November 18, 2019. The plan was announced in the Budget session of 2019.

Significance

Disinvestments are done to reduce the financial burdens on government due to inefficient PSUs. It helps to improve public finances. It also introduces market disciplines and competition that will help in depoliticizing non-essential services.

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PM inaugurates 60 MW Tuirial Hydro power Project in Aizawl, Mizoram

Prime Minister Narendra Modi inaugurated the 60 MW (megawatt) Tuirial hydropower project in Aizawl, Mizoram. It is first large hydropower central government project to be commissioned in Mizoram.

It is expected to boost socio-economic development of the state. It made Mizoram third power-surplus state in North-East after Sikkim and Tripura.

Key Facts

The Tuirial hydropower project has been built on Tuirial River, a tributary of Barak River. It was first cleared in 1998, by the then Prime Minister Atal Bihari Vajpayee. It is central sector project, built at cost of Rs. 1302 crore. It was executed by North Eastern Electric Power Corporation (NEEPCO) under Union Ministry of Power.

The hydropower project will produce 251 million units of electrical energy every year. Moreover, water stored in in its reservoir (spread over an area of 45 square km) will provide connectivity to remote villages and will also be used for development of fisheries.

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