Uttar Pradesh Cabinet has cleared the proposal of Uttar Pradesh Power Transmission Corporation Limited (UPTCL) regarding the Public Private Partnership (PPP) Model in Power Transmission Projects of the state.
According the UPTCL, it will now be able to invite competitive tariff based bidding for such projects.
In the first phase of development, the company will invite bids for the construction of 200 km lines in Agra, Mainur and Lalitpur Districts; estimated cost of the project shall be Rs. 2,000 Crores.
According the company officials, the bidding process would take around six months to complete.
State Government cabinet has also approved to stand government guarantee towards issuance of bonds and bank loans being taken by the power distribution companies under their financial restructuring program (FRP) approved by the Centre.
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