NHPC Expects A Loss Of ₹788 Cr Due To Sikkim Floods

State-owned hydropower company NHPC expects a loss of about Rs 788 crore due to damage caused due to the Sikkim floods, the company announced on Saturday through an exchange filing. Of the expected quantum of losses, material damage is seen at Rs 297 crore and business loss at Rs 491 crore.

The company in the regulatory filing added that the assets and losses of business interruption in the power station are fully insured under the 'Mega Insurance policy'.

The company is yet to make a claim and once the company realises the loss amount due to material damage and business interruption loss they will file for the claim. On steps taken to restore normalcy, it said assessment is being done and works are under progress.

The company's power station projects in Teesta Basin, were affected due to flash floods in the region when the Lhonak glacier in the Sikkim Himalayas burst on October 3, leaving dozens dead and tourists in thousands stranded.