Rs 15,000 crore for AP from Central Power Finance Corporation
This will help in providing qualitative, reliable and adequate power supply in AP
By : DC Correspondent
Update: 2014-10-10 02:28 GMT
Hyderabad: In a significant development towards improving infrastructure facilities in the power sector, the Power Finance Corporation assured full support to the Andhra Pradesh government by extending Rs 15,000 crore over a span of two years.
This will help in providing qualitative, reliable and adequate power supply in AP. PFC has agreed to give Rs 7,000 crore for transmission works, Rs 3,000 crore for power generation and Rs 5,000 crore for distribution work. A PFC team, led by chairman and managing director M.K. Goel, met Chief Minister N. Chandrababu Naidu, on Thursday at the Secretariat.
The PFC agreed to provide Rs 3,542 crore for the expansion of the Krishnapatnam unit. It said it would give Rs 7,000 crore for APTransco’s new transmission schemes over the next two years.
The PFC has said that it would share its practices in IT and consumer satisfaction services with the AP and the AP power sector utilities. PFC officials have also shown interest in AP’s skill development mission as part of corporate social responsibility.
The PFC has come forward to provide support in Aggregate Technical and Commercial loss reduction through Restructured Accelerated Power Development and Reform Programme schemes and the newly proposed Integrated Power Development Schemes.