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Our Bureau

Visakhapatnam , Oct. 27

The Eastern Power Distribution Company Ltd is obtaining a loan of Rs 100 crore from the Japan Bank for International Co-operation to cut its technical losses from the present level of 7 per cent to 2 per cent.

The EPDCL supplies power to five districts - Srikakulam, Vizianagaram, Visakhapatnam, East Godavari and West Godavari.

Mr Praveen Prakash, Chairman and Managing Director of EPDCL, said the company would set up 50 new sub-stations and upgrade the existing 46, with an investment of Rs 71 crore in two phases. "It will result in a saving of Rs 40-45 crore per annum," he said.

The loan would have to be repaid in 10 years and it was being made available through the Power Finance Corporation, he said. The interest rate would be 8.5 per cent.

He said the company had at present 30 lakh domestic connections and 1,060 HT connections. The projected revenue for the current fiscal was Rs 2,160 crore against Rs 2,000 crore last year.

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