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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

India needs to generate more power: Purandeswari

Sunday - Jan 27, 2013, 05:51pm (GMT+5.5)
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There is an urgent need to increase power generation for industrial growth as well as overall development of the country, Minister of State for Commerce and Industry D Purandeswari on Sunday.

“There was a big gap between demand and supply in the power sector and the shortage was hitting the industrial growth in the country,” the Minister said.

She was speaking after inaugurating the 2X30 MW captive power plant under the Simhadri Power Ltd (SPL), promoted by Steel Exchange India Ltd at Srirampuram in Viziangaram district on Sunday.

The Minister also underlined the need for renewable energy production in the country as the coal reserves are fast depleting.

Ms. Purandeswari said 30 countries in the world are depending on nuclear power and it is the responsibility of the governments and intellectuals to clear the apprehensions and fear among the people on use of nuclear power.

Though the Andhra Pradesh was facing severe power shortage, the state government was striving hard to provide quality power to the consumers and agricultural sectors besides providing power to the industrial sector, she said.

Andhra Pradesh Congress Committee President B Satyanarayana appreciated the efforts of the management of the Steel Exchange of India to take up welfare programmes in the backward area of the district.

Company’s Managing Director B Satish Kuamr said they have installed 66 MW thermal power plant with a capital investment of Rs 315 crore, which will cater to the needs of the plant.

He said the Simhadri Power would supply 51 per cent of the power generated for captive consumption by the units of the Steel Exchange, as per the arrangement entered by the company with SPL and the balance would be exported through merchant sale.

Earlier, Union Minister of State for Coal Pratik Patil inaugurated the coal handling plant at the power plant premises.



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