The National Bank for Agriculture and Rural Development (Nabard), under its Nabard Infrastructure Development Assistance (NIDA), has sanctioned Rs 140 crore to the Transmission Corporation of Andhra Pradesh Limited (APTransco) to meet its capital expenditure for eight projects with a total cost of Rs 176.3 crore in Anantapur, Karimnagar, Medak, Nellore and Nizamabad districts.
NIDA was launched by Nabard with a view to funding state-owned agencies for augmenting rural infrastructure outside the Rural Infrastructure Development Fund (RIDF). Under NIDA, long-term loans are provided for a period of up to 15 years with terms and conditions customised to the requirements of both the agencies and the projects.
The projects sanctioned to APTransco will help meet increased load on the lower voltage 33/11 KV sub-stations and also reduce losses in the 33-KV line. Erection of 132/33 KV sub-stations will reduce overload, improve voltage conditions and quality and reliability of power supply in rural areas, Nabard said in a release on Monday.
This is the first-ever project under NIDA sanctioned in Andhra Pradesh. Development of rural infrastructure in the state would receive a boost with the financial assistance from NIDA.