Sikkim Floods: Suffered Rs 233.56 Crore Loss In Teesta-VI Hydro Project, Says NHPC

In a regulatory filing, NHPC said that it suffered an expected loss of Rs 233.56 crore after being hit by flash floods in its Teesta-VI hydropower project in Sikkim.

In a regulatory filing, NHPC said that it suffered an expected loss of Rs 233.56 crore after being hit by flash floods in its Teesta-VI hydropower project in Sikkim.

Source : PTI

Sikkim Floods: State-run hydropower giant NHPC on Wednesday said it suffered an expected loss of Rs 233.56 crore after being hit by flash floods in its Teesta-VI hydropower project in Sikkim. The project was struck by flash floods in the Teesta basin on October 4, 2023.

"Teesta-VI Hydro Electric Project, Sikkim (500 MW), is being executed by Lanco Teesta Hydro Power Ltd, a wholly-owned subsidiary of NHPC Ltd, which was affected due to a flash flood in the Teesta Basin on October 4, 2023," the company said in a regulatory filing, as quoted by the news agency PTI. The company also stated that the expected quantum of loss or damage caused by a natural calamity or other force majeure events is approximately Rs 233.56 crore.

The company further said that all assets and works of Teesta-VI HE project are insured under the Construction All Risk (CAR) Policy, subject to excess clauses and loss limits, as per PTI. The insurance amount claimed and realised by the listed entity for the loss or damage is "nil" (as of date), it informed.

However, it said that the formal claim shall be lodged and the amount for damage or loss will be realised in due course, according to the CAR policy. Speaking about the steps taken to restore normalcy and the impact of the natural calamity on production or service and the financials of the entity, the company said an assessment is being done and restoration works are under progress. It is anticipated that there will be a time delay of at least six months and a consequent cost overrun of the project.

Relief Operations By Indian Air Force Continue Unabated In Sikkim

The officials of the Indian Air Force have said that relief operations continue unabated in Sikkim. The officials further stated that the IAF has been undertaking missions using its Cheetah, Chinook, Mi-17 1V, and Mi-17 V5 helicopters to support the state government’s efforts to provide relief to victims.

IAF officials said, "Relief operations by the Indian Air Force continue unabated in Sikkim.  IAF has been undertaking missions using its Cheetah, Chinook, Mi-17 1V and Mi-17 V5 helicopters to support the state government’s efforts to bring relief to victims of the disaster. Till now IAF has flown 262 sorties, resulting in the transportation of 2002 civilians from the flood ravaged areas to safer locations & shifting of over 1,32,805 kg relief material.  IAF has also ferried 259 relief workers & 179 personnel of the Indian Army during the relief missions." 

Relief operations by the Indian Air Force continue unabated in Sikkim. IAF has been undertaking missions using its Cheetah, Chinook, Mi-17 1V and Mi-17 V5 helicopters to support the state government’s efforts to bring relief to victims of the disaster. Till now IAF has flown 262… pic.twitter.com/mMaicVypsx

— ANI (@ANI) October 18, 2023