Impressed with the massive rural electrification works in the state, the Rural Electrification Corporation (REC) has agreed to provide a financial assistance to the tune of Rs 1,100 crore to the Transmission Corporation of Andhra Pradesh (APTransco) and power distribution companies (Discoms) during the current financial year.
A decision to this effect was conveyed by Uma Pillai, the chairman & managing director of REC, at a review meeting held here today with the top officials of APTransco and Discoms.
Transco availed of a loan of Rs 744 crore from REC during the last fiscal. The REC chairman praised Transco and discoms for having ensured prompt repayment of loans and availing of 0.50 per cent rebate for such prompt payment, according to a Transco release.
The loan sanctioned for the current year is meant for errecting three numbers of 400 KV/220 KV sub-stations, 26 numbers of 132 KV/33 KV sub-stations, 154 numbers of 33 KV/11 KV sub-stations and electrification of 5,050 habitations.
In order to accelerate the pace of electrification of leftover villages, hamlets and dalit basties, REC has introduced a new scheme for providing a soft loan through the state governments. During the current fiscal, it is proposed to electrify 5,050 habitations in the state with an estimated amount of Rs 123.46 crore, the release added.
During the meeting, it was decided to take up huge works under the high voltage distribution system (HVDS) to the tune of Rs 69 crore during the current financial year for installation of smaller capacity transformers, extending of 11 kv line and laying of LT line for the benefit of farmers in the state.
There is also a massive programme under APDRP with an assistance of Rs 110 crore.
