Asian Development Bank to fund TRANSCO

Bhopal -- The Asian Development Bank (ADB) has agreed to provide loans to the tune of Rs.11 billion to Madhya Pradesh Power Transmission Co. Ltd (TRANSCO) to implement its second action plan.

"A comprehensive study of the second action plan was conducted by ADB and it would be providing Rs.11 billion as loan shortly," TRANSCO chairman cum managing director R.K. Verma told IANS from Jabalpur over telephone.

"Apart from ADB, TRANSCO is also in touch with other financial institutions for a loan of Rs.10 billion," he said.

TRANSCO, Verma said, has within four years of its inception implemented the first action plan worth Rs.10 billion ahead of schedule, thus strengthening the transmission system in the state.

Significant increase has also been noticed in the capacity of power transmission due to low transmission loss, he added.