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Russia, New Development Bank Discuss Project to Build Hydropower Plant in India

The Russian Direct Investment Fund and the BRICS Development Bank have discussed building a hydroelectric power plant in India.

16 OCTOBER 2016


GOA (Sputnik) - The Russian Direct Investment Fund (RDIF) and the BRICS Development Bank are discussing the project on building a hydroelectric power plant in India, fund's CEO Kirill Dmitriev said Sunday.


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"We want to continue constructing the hydroelectric power plants in India with the help of our partners. This issue is being considered now," Dmitriev told RIA Novosti. The CEO added that the construction of the two hydroelectric power plants in the Republic of Karelia, Russia, was the New Development Bank’s project in the world that reached the stage of implementation. The plants are due to be constructed before 2020. Dmitriev stressed that the Fund’s partners from the United Arab Emirates, Saudi Arabia, Kuwait and China were involved in the project. The NDB was established by BRICS member states in July 2014, to finance infrastructure and sustainable development projects both in BRICS and other developing countries.

Source:
https://sputniknews.com/world/201610161046381178-russia-india-brics-bank/