Rural Electrification Corporation Limited: Sanctions loan for transmission projects of Maharashtra for Rs. 2,167crores
Rural Electrification Corporation Limited ("REC"), a 'Navratna' public financial institution in the Indian power infrastructure sector in its board meeting held on 30th December 2009 has approved the sanction of loan assistance for four transmission projects (for evacuation of power from new generation projects) for a total loan assistance of Rs. 2,167 crores.
Tweet-- Rural Electrification Corporation Limited ("REC"), a 'Navratna' public financial institution in the Indian power infrastructure sector in its board meeting held on 30th December 2009 has approved the sanction of loan assistance for four transmission projects (for evacuation of power from new generation projects) for a total loan assistance of Rs. 2,167 crores.
These sanctions are in line with the MoU executed on 6th August 2009 between REC and the Transmission Company of Maharashtra State, MSETCL, to cooperate to leverage their respective strengths and competencies for their mutual benefit, for upgradation of infrastructure of the existing transmission network and implementation of new transmission schemes to meet the demand of power in the state of Maharashtra. As per the MoU, financial assistance to the tune of Rs. 4,000 crores for implementing its various transmission projects has been requested for by MSETCL, sanction for which will be accorded by REC over a period of 3 years.
MSETCL has plans to establish a robust transmission network with transmission capacity of 30,000 to 35,000 MW by 2012, an increase of more than 120%, as the present system is quite inadequate.
In view of this, MSETCL has prepared a five-year rolling plan for 2007-12 and obtained approval from MERC for establishment of sub-station and transmission lines from 132 KV to 765 KV.
Notes to Editor
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