DVC to increase installed capacity to 11,000 MW

April 18th, 2008 - 11:18 pm ICT by admin  

Kolkata, April 18 (IANS) The Damodar Valley Corporation (DVC), India’s multipurpose river valley project, will increase its installed capacity to 11,000 MW from the current 2,400 MW by 2012, union Minister of State for Power Jairam Ramesh said. “The DVC is to achieve a remarkable growth during the next four years with its installed capacity reaching 11,000 MW from the current 2,400 MW by 2012. Out of this total 11,000 MW capacity, 99 percent would be coal based,” Ramesh said here Friday.

He said 250 MW Mejhia expansion unit of DVC would start functioning from May 2008 and two more expansion units of 250 MW each would be commissioned at Chandrapura in Jharkhand this year.

Talking about the expansion programme, the minister said the DVC would require a total investment of Rs.400 billion ($10 billion) in the next four years and for that it would have to borrow capital from the Power Finance Corp, Rural Electrification Corp and commercial banks.

“The DVC is also in a process to set up a wholly-owned subsidiary so that it can go to public and raise resources. An agency has been appointed to undertake necessary study in this regard,” he said.

Ramesh said the DVC would set up a world-class research and development centre with an investment of Rs.1 billion at Rajarhat Township near Kolkata.

“It will be set up in collaboration with Indian Institute of Technology (IIT)-Kharagpur. The centre will start its activities from May this year,” he said, adding that initially it would be run at a rented place but later will be shifted to DVC’s own premises.

“A piece of land has already been acquired for the purpose,” he said.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |