NHPC expects Rs 788 crore loss caused by Sikkim floods

NEW DELHI: State-owned hydropower company NHPC said on Saturday it expects about Rs 788 crore in losses or damage caused by the Sikkim floods. Of the expected quantum of losses, material damage is seen at Rs 297 crore and business losses at Rs 491 crore, the company informed stock exchanges. It also updated the exchanges through the filing that the assets and losses of business interruption in the power station are fully insured under the 'Mega Insurance policy'.

On steps taken to restore normalcy, it said assessment is being done and work is under progress. Its power station projects, situated in the Teesta Basin, were affected by flash floods in the region. The Lhonak glacier in the Sikkim Himalayas burst on October 3, breaching one side of the lake, leading to a rise in the water levels in Teesta and inundating several areas of the state, leaving dozens dead and thousands of tourists stranded. The state of Sikkim suffered significant disruptions due to the flash floods that inflicted damage on footbridges, roads, and other crucial infrastructure. (ANI)

Also Read:Sikkim Flash Flood Tragedy: CM Prem Tamang Blames Previous Government

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