ADB approves USD 132.8 mn loan to improve power distribution network in Meghalaya: Minister
The Meghalaya Power Distribution Corporation Limited (MePDCL) has a huge outstanding against the power purchased from central power generating stations and to the Power Grid Corporation of India Limited (PGCIL), the minister had said
Shillong : The Asian Development Bank has approved USD 132.8 million loan to improve and upgrade the power distribution network in Meghalaya, Power Minister James PK Sangma said on Tuesday. “Happy to announce that the @ADB_HQ has approved a loan of $132.8 mn to improve & upgrade the power distribution network in #Meghalaya. The project fully supports Meghalaya’s initiative in improving the distribution system & financial sustainability of the Department,” the power minister said in a tweet.
The Meghalaya cabinet had in August this year approved a proposal from the Meghalaya Energy Corporation Limited (MeECL) to avail a Rs 1,345.72 crore loan for clearing the power outstanding dues, on conditions that it has to bring down the aggregate technical and commercial (AT&C) losses and reduce the gap of average cost of supply (ACS) and average revenue realized (ARR).
The Meghalaya Power Distribution Corporation Limited (MePDCL) has a huge outstanding against the power purchased from central power generating stations and to the Power Grid Corporation of India Limited (PGCIL), the minister had said.
Source : economictimes
