JSC RusHydro subsidiary RusHydro International AG has signed a contract with the India's North Eastern Electric Power Corp. Ltd. (NEEPCO) to design the second phase of the Upper Siang hydropower plant.
The 3,750-MW Upper Siang second phase, regarded by the Indian government as a high-priority national project, will be located in India's northeastern Arunachal Pradesh state.
RusHydro (LSE: HYDR) said surveying and design will take up to two years, and that it will also participate in the project's tendering process.
"The project is very important not only for RusHydro, but for all of Russia," said George Rizhinashvili, deputy chair of the company's management board. "This is an important step for the country in returning to the Asia-Pacific and strengthening position in the region.
The US$16 billion plant will be operated by a Russian/Indian joint venture called RusHydro International India.
With a cumulative output capacity expected to approach 12,000 MW, Upper Siang will be the largest hydroelectric plant in Asia after China's 22.5-GW Three Gorges.
HydroWorld.com reported in January 2012 that India's NTPC had submitted a pre-feasibility report for a complex that includes the Upper Siang plant.