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Gati Infrastructure Ltd has commissioned its first 110 MW hydro electric power plant in Sikkim.
According to the company, they have invested about Rs 1,150 crore in the hydel project.
The company is a subsidiary of Amrit Jal Ventures Ltd promoted by Mahendra Agarwal, Founder and Chief Executive Officer of logistics company Gati Ltd.
Gati Infra had entered into an agreement with the Sikkim Government to implement three hydel power projects on build, operate, own and transfer basis.
The first project of 110 MW Chuzachen hydro project on Rangpo and Rongli rivers have been commissioned and have begun to sell power.
This is the first project by an independent power producer in Sikkim and the seven sisters in the North- East, Gati said.
Mahendra Agarwal in a statement said the commissioning of the hydel project is a big milestone in the history of Gati Group. Being a logistics company, the entry into power is an unrelated diversification.
The plant is directly connected to the Central Transmission Utility (national grid) through a 24-km dedicated transmission line and will be able to deliver power across the country.
The express distribution and supply chain company Gati Ltd, TCI Finance Ltd are shareholders of the company Amrit Jal Ventures Ltd, which is implementing two more hydel power projects in Sikkim.
These include a 54-MW Bhasmey hydro electric project and 71 MW Sada Mangdar project.
Gati shares closed the day at Rs 29.40, up 2.62 per cent on the BSE.
>rishikumar.vundi@thehindu.co.in
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