OPTCL looks for Rs 1,000 crore loan from JICA

January 28, 2013

State owned transmission utility – Odisha Power Transmission Corporation Ltd (OPTCL) is looking to avail loan assistance of Rs 1,000 crore from Japan International Cooperation Agency (JICA) for funding new transmission projects.

If the funding fructifies, it will be the first assistance to be extended by the Japanese agency to the electricity sector in Odisha.

OPTCL has identified 50 new projects to be taken up in the transmission sector at a cost of Rs 1,300 crore. The utility has already applied to JICA for a loan of Rs 1,000 crore. The balance funding will be offered by the state government as equity support to OPTCL.

The Rs 1,300 crore investment is for putting up new transmission lines and establishment of new grid sub-stations. The projects are planned for several districts like Kandhamall Korapur, Bolangir, Keonjhar, Balasore, Malkangiri, Jharsuguda, Bhadrak, Puri and Khurda.

Separately, OPTCL has identified projects worth Rs 1,000 crore to be implemented on the PPP (public private partnership) mode. The projects are expected to help meet the state’s power transmission capacity which is projected at 19,500 MVA by 2016-17 to evacuate surplus power to be produced from projects proposed by independent power plants (IPPs). Global consultants- Ernst & Young (E&Y) and PricewaterhouseCoopers (PwC) are closely working with OPTCL on this initiative.

The projects to be taken up on the PPP mode include Rs 108-crore Meramundali line, 400 kV sub-station at Khuntuni with 400 kV Duburi line and 400 kV Mendhasala line at a cost of Rs 248 crore and 400 kV sub-station at Paradeep involving investment of Rs 134 crore to name a few.

OPTCL has also forged joint ventures with Power Grid Corporation of India Ltd (PGCIL) and Mahanadi Coalfields Ltd (MCL) – Kalinga Power Transmission Corporation and Neelachal Power Transmission Corporation respectively. Together, these two JV companies would invest Rs 3,500 crore.