Business

World Bank to lend $310 mn to improve Jharkhand's power system

Agency | November 20, 2018 05:58 PM

New Delhi: The Centre and the Jharkhand government on Tuesday signed a pact with the World Bank under which the multilateral agency will advance a loan of $310 million to boost the state's power system, mainly transmission infrastructure.

"The Jharkhand Power System Improvement Project will help build new power transmission infrastructure as well as put in place systems to improve the technical efficiency and commercial performance of the state power sector utilities," the Ministry of Finance said in a statement.

The project, part of the central government's 'Power for All' programme launched in 2014, will help bring in modern technology solutions such as automated sub-stations, network analysis, and planning tools to provide reliable power supply, it said.

The deal was signed by Additional Secretary in the Union Finance Ministry Sameer Kumar Khare, Jharkhand Energy Department Secretary Vandana Dadel and World Bank India Country Director Junaid Ahmad.

Khare said the project would help meet Jharkhand's energy needs for its economic growth as demand for reliable power is expected to almost double in coming years.

Ahmad said the project would help the state increase supply of reliable electricity to households, industries, and businesses, and contribute to poverty alleviation and inclusive growth.

Currently, more than 80 percent of the state's population has access to electricity and the per capita power consumption in Jharkhand at 552 kWh at the end of the financial year 2015-16 is roughly half of the national average, the statement said.

However, in recent years, the state has achieved lower supply deficits.

Some of the major components of the project include construction of new sub-stations and transmission lines, providing support to the Jharkhand Urja Sancharan Nigam Ltd (JUSNL) and helping integrate renewable energy in the state grid.

It will also support smart meters, with two-way communication and backend IT infrastructure, deployed in select urban towns. To begin with, the project will finance smart metering for around 350,000 consumers in the capital city Ranchi, the Ministry said.

The $310-million loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a final maturity of 25 years, it added.

Have something to say? Post your comment
Must Read
Internationally acclaimed Classical Dances’ Proponent Parwati Dutta taught ‘Odissi & Kathak’ to LPU Students
Internationally acclaimed Classical Dances’ Proponent Parwati Dutta taught ‘Odissi & Kathak’ to LPU Students
Brahm Mohindra reiterates commitment of state government to promote sports in Punjab
Brahm Mohindra reiterates commitment of state government to promote sports in Punjab
Villager arrested for selling illicit liquor
Villager arrested for selling illicit liquor
Drug peddler  arrested under NDPS Act
Drug peddler arrested under NDPS Act
Sidhu no longer part of "The Kapil Sharma Show"
Sidhu no longer part of "The Kapil Sharma Show"
Set up regulatory authority to keep watch on retail prices of vegetables: Arora writes to CM
Set up regulatory authority to keep watch on retail prices of vegetables: Arora writes to CM
One Lac Food Business Operators to be imparted training-Pannu
One Lac Food Business Operators to be imparted training-Pannu
Punjabi spend Rs 20 crores daily on drugs; Survey report
Punjabi spend Rs 20 crores daily on drugs; Survey report
Ministerial staff continued  pen down strike on Friday
Ministerial staff continued pen down strike on Friday
Two villagers acquitted of snatching charge
Two villagers acquitted of snatching charge
Rogi Kalyan Samiti approves Rs 5 lakh for improving infrastructure and health facilities in Civil Hospital
Rogi Kalyan Samiti approves Rs 5 lakh for improving infrastructure and health facilities in Civil Hospital
HC disposes of defamation case after Kejriwal, Azad settle matter with DDCA
HC disposes of defamation case after Kejriwal, Azad settle matter with DDCA