NEEPCO granted Miniratna–Category–1 Status by the Union Government of India
NEEPCO was conferred with the Miniratna – Category – 1 status by the President of India, Pranab Mukherjee on 8 April 2013.
North Eastern Electric Power Corporation (NEEPCO) was conferred with the Miniratna – Category – 1 status by the President of India, Pranab Mukherjee on 8 April 2013. NEEPCO was earlier the schedule ‘A’ Corporation.
Status of Category-I Miniratna firms
Category-I Miniratna firms can incur the capital expenditure on modernization, new projects as well as equipment purchase without the approval of the Government, up to 500 crore Rupees. The Category-II Miniratna firms, on the other hand, have the financial freedom of spending up to 300 crore Rupees or 50 percent of total net worth, whichever out of these is lower.
NEEPCO’s status after being conferred with Miniratna – Category – 1
NEEPCO was initially the schedule ‘A’ Corporation. After being elevated to Miniratna – Category – 1 status, NEEPCO will have autonomy to take the investment decisions freely without the consent of Ministry of Power.
• NEEPCO plays a crucial role in the power sector of North East region. it serves around 50 percent power requirement of this region.
• By 2018, NEEPCO has plans to add 2300 MW of power through the thermal and hydro projects.
• At present, NEEPCO executes 5 projects in North East region with total installed capacity of 917 MW.