ADB offers to provide loan to TRANSCO | india | Hindustan Times
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ADB offers to provide loan to TRANSCO

india Updated: Nov 18, 2006 16:44 IST

THE ASIAN Development Bank (ADB) has come out with a plan to provide loan to the tune of Rs 1,100 crore to the Madhya Pradesh Power Transmission Company Limited (TRANSCO) for implementation of its second action plan.

A comprehensive study of the second action plan was conducted by the ADB team during its visit to the State in the recent past and sanction for Rs 1,100 crore loan was expected soon, according to an official press release issued on Friday. Apart from the ADB assistance, the TRANSCO is also in touch with other financial institutions for a loan of Rs 1,000 crore.

The TRANSCO, within a period of four years since its inception, has implemented the first action plan worth over Rs 1,000 crore ahead of its due date, which has proved helpful in strengthening the transmission system in the State, the release claimed. Besides, significant increase has been noticed in the capacity of electricity transmission due to low transmission loss.

In a review meeting concerning the second action plan, TRANSCO chairman cum Managing Director (CMD) R K Verma exchanged views with all the heads of the departments and regional officers of the company in order to make the management more result-oriented and efficient. Also, all the aspects of transmission system concerning the second action plan were also discussed at the review meeting in Jabalpur.

It has also been informed that the state will get 1500 megawatt additional electricity in 2007-08 from new power plants —  Birsingpur - 500 mega watt; Amarkantak- 210 megawatt; Vindhyachal Extension - 210 megawatt; Omkareshwar - 260 megawatt; Sardar sarovar - 200 megawatt and from other power stations of the central sector. Also, there is a plan to install various new electricity generating plants in the State in the coming two-three years, the release said.