Kesco, Torrent Power Limited Ink Deal

Times of India:

At 12.39 pm, the procedure of signing the contract started and within the next 51 minutes (by 1.30 pm) the fate of Kesco was decided. Kesco was represented by chief engineer (I) Randhir Singh and Ashok Modi negotiated the deal for Torrent Power Limited. It is to be noted here that under the input-based franchisee model system, Kanpur Electricity Supply Company (Kesco) will have to hand over the distribution of electricity, realisation of bills, maintenance and development of the infrastructure and other related works to the Torrent Power Limited for a period of 20 years.
kesco

It may be recalled that the deal could not materialise between the two parties earlier as the model code of conduct was in force.

When asked why Kanpur has been chosen as the first city for this model system, Kesco MD Narendra Bhushan said that losses from Kanpur were high as compared to the other cities in the state. The revenue collection was low so in order to reduce the losses, the industrial city has been touched first.

Bhushan said, “This deal was required for the good of the people of Kanpur. The step taken by the state government will ensure that the industrial city gets better power than what it has been getting so far.” Read on…

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