Chief Minister K Rosaiah on Tuesday directed AP Genco officials to make use of financial assistance sanctioned for the 2x800 MW Vodarevu mega thermal project in Prakasam and the 700 MW gas-based power project in Karimnagar district, and to complete the projects on time.
Talking to media persons after chairing a meeting to review the progress of works with AP Genco officials at the Secretariat, Rosaiah said that the Rs. 9,506 crore financial assistance from Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) should be utilized properly for executing the projects in a speedy manner.
Principal Secretary (Energy) S Bhattacharya, AP Genco MD K Vijayanand, and AP Genco Finance Director D Prabhakar informed the Chief Minister over the sanctioning of loan from PFC and REC.
The PFC has sanctioned financial aid to the tune of Rs. 6,806 crore for the setting up of the 2x800 MW coal-based Vodarevu mega thermal project in Prakasam district, and the REC has sanctioned Rs. 2,700 crore for development of the 700 MW gas-based power project in Karimnagar.
The projects, if completed, would boost the state power generation by 2300 MW, and be helpful in tiding over the shortage of power in the state, the chief minister said.
The Chief Minister also thanked the PFC for reducing the rate of interest from 10.75% to 10.50% for the loan of Rs. 6,806 crore sanctioned to the Vadarevu project.
Courtesy: INN
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