NEW DELHI, May 15: Japan International Cooperation Agency (JICA) today signed an agreement with India to provide a loan of about Rs 1,150 crore to augment power transmission infrastructure in Odisha.
“JICA today signed an agreement with the Government of India to provide 21,787 million Japanese Yen (Rs 1,150 crore) Japanese Official Development Assistance (ODA) loan to augment power transmission infrastructure in Odisha,” according to a statement issued by JICA.
The agreement was signed by JICA India Office Chief Representative Shinya Ejima and Joint Secretary in Ministry of Finance S Selvakumar.
The assistance will provide for sub-stations and transmission lines across Odisha to enhance the stability of power system and reliability of power supply and reduce transmission loss in the state with increasing electricity demand due to rapid economic growth.
According to the statement, the installed power generation capacity in Odisha is expected to increase from 5,511 MW in 2014-15 to 10,932 MW by 2021-22.
Besides increase in generation capacity along with economic growth, the development of power transmission network that delivers the generated electricity has become an important challenge, it said.
“The augmentation of the transmission system in Odisha will contribute towards the endeavor of providing 24×7 electricity to industrial, agricultural, commercial and household consumers,” said Ejima, Chief Representative, JICA India Office.
The civil works for the construction of sub-stations and transmission lines would be carried out by Odisha Power Transmission Corporation Limited, which will be completed in phases by 2020.
From disaster prevention viewpoint, it is planned to install sub-stations, that are resistant to natural disasters, in this project.
JICA has extended JPY 65,021 million (approximately Rs 3,400 crore) in ODA loans since 1981 for all-round development in Odisha.
The agency has extended JPY 1,241,200 million (about Rs 65,260 crore) in ODA loans since 1958 for enhancement of power generation and transmission infrastructure in India.
The assistance has enabled development of 9.3 GW of power generation capacity. (PTI)
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