You are here: Home » Economy & Policy » News
Business Standard

World Bank to lend $310 mn to boost Jharkhand's power transmission infra

The project, part of the central government's 'Power for All' programme launched in 2014, will help bring in modern technology solutions

Economy  |  Finance  |  Jharkhand

IANS  |  New Delhi 

World Bank
World Bank Photo: Reuters

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

"The 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 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 Ministry Sameer Kumar Khare, Department Secretary Vandana Dadel and India Country Director Junaid Ahmad.

Khare said the project would help meet Jharkhand's 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 to households, industries and businesses, and contribute to poverty alleviation and inclusive growth.

Currently, more than 80 per cent of the state's population has access to and the per capita power consumption in Jharkhand at 552 kWh at the end of 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 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 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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 20 2018. 17:52 IST