Concurrent (India) Infrastructure Ltd's is all set to enter an agreement with Sikkim Power Development Corporation Ltd through PPP Model to develop a, "40 MW Hydro project at Labdang in Sikkim". The total project cost is estimated by Sikkim Power Development Corporation is 111.20 Cr. Out of this 30 cr is already spent on developing Preparation of DPR, Procurement of Land and statutory clearances; access road and bridge at site, 30 meter tunnel and for the other civil works. Out of the total cost of work, Sikkim Development Corporation will bear 49% of debt & equity and rest will be contributed to the extent of 51 % by Concurrent.
Commenting on this Mr. K. Sudhir Babu, Director & CEO stated that, "With this Concurrent will have a foot hold in Sikkim. As per estimations, in Sikkim hydro potential is 9000 MW out which only 4000 MW has been allotted. This gives us a chance to strengthen our self in Hydro power".