ADB approves $100 million loan to upgrade power distribution system in Bengaluru

The Asian Development Bank (ADB) will provide a USD 100 million (around Rs 730 crore) loan to modernise and upgrade the power distribution system in Bengaluru city. Besides the USD 100 million sovereign loans, ADB will provide a USD 90 million loan without sovereign guarantee for the project to Bangalore Electricity Supply Company Ltd (BESCOM), one of the five state-owned distribution utilities in Karnataka.

WARRIOR 4.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class

About the Project:

• In parallel to underground distribution cables, over 2,800 km of fibre optical cables will be installed to strengthen communication network. Moving about 7,200 km of distribution lines underground will help reduce technical and commercial losses by about 30 per cent.
• The fibre optical cables will be used for smart metering systems, distribution automation system (DAS) in the distribution grid, and other communication networks.
• The project will install 1,700 automated ring main units adapted with a DAS to monitor and control the distribution line switch gears from the control centre
• The loan will strengthen the capacity of BESCOM in operation and maintenance of underground cabling, environment and social safeguards, financial management and commercial financing. Improved financial management capability will help BESCOM access domestic and international commercial financing market.

Important takeaways for all competitive exams:

• Chief Minister of Karnataka: B.S. Yediyurappa; Governor: Vajubhai Vala.
• President of ADB: Masatsugu Asakawa; Headquarters: Manila, Philippines.
• ADB Established: 9 December 1966.

Find More State In News Here