Kaleshwaram Irrigation Project Corporation permitted to raise Rs 18000 crore loan

The State government has permitted the Kaleshwaram Corporation to raise loans from the Rural Electrification Corporation.

Published: 30th August 2019 03:47 AM  |   Last Updated: 30th August 2019 03:47 AM   |  A+A-

A file photo of Kaleshwaram Irrigation Project | Express

By Express News Service

HYDERABAD: The State government has permitted the Kaleshwaram Corporation to raise loans from the Rural Electrification Corporation. This will enable the lifting of one tmcft of water from the Godavari river at Medigadda on a daily basis. Initially, the State government had planned to lift only two tmcft from Medigadda, now it has decided to lift 1 tmcft daily.

The Kaleshwaram Irrigation Project Corporation Limited (KIPCL) has been permitted to take a rupee term loan from the Rural Electrification Corporation Limited for an amount of Rs 18,751 crore at 10.9 per cent interest. It will be used to power the electromechanical and hydro-mechanical components in all projects under the two schemes of Kaleshwaram. 

Under scheme-1, Rs 4,657.95 crore will be used to 1 tmcft from Medigadda barrage to Sripada Yellampally Project (SYP) under link-1. Under scheme-2, Rs 14,093.43 crore would be used to lift an additional 1 tmcft per day from Mid-Manair Reservoir (MMR) to Sri Komaravelli Mallana Sagar Reservoir. As per orders issued by Chief Secretary SK Joshi on Thursday, the KIPCL shall pay a guaranteed commission of two per cent, consolidated for the entire guarantee period to government.

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