West Bengal power firm plans Rs.5,000 crore investments

Kolkata, July 2 : State-owned West Bengal State Electricity Distribution Company Limited (WBSEDCL) is planning to raise Rs.5,000 crore in the next three years to fund rural and urban electrification, a top company official said here Thursday.

'Around Rs.3,000 crore will be invested for rural electrification, Rs.1,000 crore for enhancement of urban facilities and another Rs.1,000 crore for customer service automation,' Malay K. De, chairman and managing director, WBSEDCL told reporters on the sidelines of an energy conference organised by an industry body.

When asked how would WBSEDCL plans to fund this expansion, he said it would be through government funding and internal accruals.

He said that the company will also raise Rs.500 crore in the current fiscal year.

'We will raise Rs.500 crore via bonds or long term borrowings for financing transmission,' De said. He said the company is already in talks with banks.