UP seeks external aid to tide over power crisis
IN AN obvious effort to tide over the ongoing power crisis, a fund-starved State Government has approached the Japanese government for financial assistance to set up the Anpara ?D? project and develop infrastructure facilities, including Mass Rapid Transport System (MRTS) in Lucknow.india Updated: May 19, 2006 01:31 IST
IN AN obvious effort to tide over the ongoing power crisis, a fund-starved State Government has approached the Japanese government for financial assistance to set up the Anpara “D” project and develop infrastructure facilities, including Mass Rapid Transport System (MRTS) in Lucknow.
As the processing of Japanese loan may take two to five years, the State Government has requested Japan to expedite things and reduce the time to nearly eight months so that the work may begin at the earliest. A high level team comprising Speaker Mata Prasad Pandey, Energy Minister Shivpal Singh Yadav and senior officers of the State government held discussions in this regard with a six- member Japanese delegation here today.
First secretary in the Japanese Embassy Toyu Fu Ku led the delegation, which also included Chairman-cum-Managing Director (CMD) of Yama Moto of Itochu India of Japan. The Japanese senior vice minister for Finance had sent the delegation to study areas where Japan could assist the State in infrastructure development. The State government had requested the minister for assistance during his visit to Lucknow last month.
A senior officer in the State government disclosed that the delegation said the Japanese government may consider the request. According to principal secretary, Energy, Ashok Khurana, the State Government would need a sum of Rs 4,000 crore to set up Anpara “D” plant that would generate 1,000 MWs of power. A sum of Rs 1,200 crore would be required to set up the new transmission lines. The State government would seek loan to the tune of nearly Rs 5,000 crore from the Japanese Bank of International Corporation (JBIC) that provides loan at 1.7 per cent rate of interest. The JBIC loan, if sanctioned, would be repayable in 40 years with a 10-year moratorium, said Khurana.
Other projects discussed at the meeting included the Mass Rapid Transport System (MRTS) for Lucknow. Khurana said the Japanese team had also been requested to conduct a technical feasibility study of the projects. This would help in ensuring that work commenced immediately after the projects were sanctioned, said Khurana.
First Published: May 19, 2006 01:31 IST