Financial Daily from THE HINDU group of publications
Saturday, Jun 18, 2005
Financial Daily from THE HINDU group of publications Saturday, Jun 18, 2005 |
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Industry & Economy
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Power REC to extend Rs 1,040-cr assistance to Andhra Our Bureau
Hyderabad , June 17 THE Rural Electrification Corporation (REC) has agreed to provide financial assistance to the tune of Rs 1,040 crore to Andhra Pradesh for the year 2005-06. The REC has also provisionally accepted to give Rs 400 crore for electrification of 10,00,000 rural households, augmentation of backbone network and other works for the current fiscal. These are the outcomes at the Annual Works Programme meeting for the year 2005-06 of the Andhra Pradesh Transmission Corporation (APTransco) held on Thursday. The Chairman and Managing Director of Transco and officials of REC participated in the meet, according to an official pres release. The Rs 1,040-crore assistance from REC would be for improvement works in substations, to provide power for agriculture pumpsets and implementation of HVDS in seven districts. During fiscal 2004-05, the REC had released Rs 773.04 crore to APTransco and the distributions companies (Discoms). It also sanctioned Rs 15 crore as grant for electrification of one lakh BPL (below poverty line) rural house holds. AP stood first in the country in terms of investments made for rural electrification works and achievements during fiscal 2004-05, the release claimed.
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