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APTransco has said that it has tied up funds for the Rs 6,000-crore expansion project for its transmission network and plans to invest Rs 1,500 crore during the current financial year.
To meet the growing demand for skilled manpower, APTransco plans to train about 1,000 skilled workers. For this, it has tied up with the Labour and Training Department and district administration and ITIs.
Priority would be accorded to scheduled castes and scheduled tribes weaker sections youth in this initiative.
Funds
“The funding was closed with the Japanese Bank for International Cooperation (JBIC) providing Rs 800 crore, Power Finance Corporation (PFC) Rs 2,000 crore, along with a consortium of banks and financial institutions,” according to Mr Ajay Jain, Chairman and Managing Director of APTransco.
“We signed up with PFC earlier this week for the first tranche of Rs 500 crore. The funding will mainly be to strengthen the transmission network. We plan to set up 52 sub-stations during 2011-12, about one a week. Such a network is important as we expect the installed capacity to go up by about 6,000 MW in the next four years,” he said.
Investment roadmap
Speaking to newspersons here today, Mr Jain said the State has managed to meet a peak demand of about 11,829 MW during the year and a peak requirement of 265 million units per day. This has resulted in good rabi season crop.
“APTransco along with four AP Discoms will invest up to Rs 14,000 crore in the next four years. On behalf of APTransco, we will set up 170 Extra High Tension (EHT) substations and strengthen the system at a cost of Rs 6,000 crore during the next four years. Of this, Rs 1,500 crore would be during the current financial year. This expansion will enable us to provide support to agriculture and industrial consumers,” he highlighted.
To further strengthen the transmission network, talks are under way with Power Grid Corporation of India Ltd (PGIL), to set up 765 kV substation near Hyderabad and another one in the coastal region to evacuate power from the Vodarevu power project of AP Genco.
The station near Hyderabad would be necessary as the city alone now consumes about 1,800 MW, he said.
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