Shimla, Sep 30 :Hydropower majors Satluj Jal Vidyut Nigam Ltd (SJVNL) and NHPC Ltd will jointly set up a mega power project in Manipur at an investment of Rs. 9,000 crore.

"SJVNL is executing the 1,500-MW Tipaimukh hydropower project in Manipur in partnership with NHPC and the Manipur government," H. K. Sharma, chairman and managing director of SJVNL, told IANS Wednesday.

SJVNL owns and operates the 1,500-MW Nathpa-Jhakri project in Himachal Pradesh's Kinnaur district.

NHPC will hold 69 percent stake in the Tipaimukh project, while SJVNL and the Manipur government will hold 26 and 5 percent respectively.

"The project would cost Rs. 9,000 crore and would be completed within 12 years," Sharma said.

According to him, the project was earlier sanctioned to North Eastern Electric Power Corp but it failed to execute it.

Located on the confluence of Tuivai and Barak rivers on the Manipur-Mizoram border, the project would have six generating units of 250 MW each.

SJVNL has plans to invest over Rs. 23,000 crore in the next 10 years to add 4,000 MW capacity to its existing 1,500 MW, Sharma said. (ians)