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CESC to spend Rs.20 bn to upgrade distribution network

BUS9Business/BusinessCESC to spend Rs.20 bn to upgrade distribution networkKolkata, Nov 10 IANS Power utility CESC Ltd plans to spend Rs.20 billion over the next three to five years to strengthen its distribution network, a top company official said here Monday."We will source the fund through internal accruals," CESC vice-chairman Sanjiv Goenka told reporters at a press briefing.The company will utilise the fund for network augmentation and setting up of more control systems, he added.CESC Monday signed an agreement with SP Global Solutions SPGS, a subsidiary of Singapore Power, one of Asia Pacific's leading energy utilities, for consultancy support to improve power distribution in the CESC licensed area.CESC is the flagship company of RPG Entreprises and supplies electricity to Kolkata and suburbs. It will pay an annual fee of Rs.60 million to SPGS for its consultancy service."This is mostly a technology transfer agreement," Goenka said, adding that the company expected to cut down on power disruption through the tie-up.SPGS provides training and consultancy services to utility companies in China, the Gulf region and Southeast Asia to help them upgrade their energy infrastructure and expand capacity to support growth."With assets of about S$29 billion, Singapore Power operates in a licensed area of 600 square kilometre, which is comparable to CESC's licensed area of 567 square kilometre," Goenka said.--Indo-Asian News Serviceag/ank/jg238 Words10111542