Asian Development Bank to fund TRANSCO
The Asian Development Bank (ADB) is funding Rs 11 bn to TRANSCO for activating its second action plan.india Updated: Nov 18, 2006 14:10 IST
The Asian Development Bank (ADB) has agreed to provide loans to the tune of Rs 11 billion to Madhya Pradesh Power Transmission Co Ltd (TRANSCO) to implement its second action plan.
"A comprehensive study of the second action plan was conducted by ADB and it would be providing Rs 11 billion as loan shortly," said TRANSCO chairman cum managing director RK Verma.
"Apart from ADB, TRANSCO is also in touch with other financial institutions for a loan of Rs 10 billion," he said.
TRANSCO, Verma said, has within four years of its inception implemented the first action plan worth Rs 10 billion ahead of schedule, thus strengthening the transmission system in the state.
Significant increase has also been noticed in the capacity of power transmission due to low transmission loss, he added.
First Published: Nov 18, 2006 14:10 IST