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Volume 2 Issue 7

10.2012

MONTHLY

INDUST

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RANSMIS

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LSI Financial Services is a leading provider of innovative financial solutions to corporate India for over a decade.

It has successfully raised funds for companies through structured financial products, spanning various sectors. With in depth domain knowledge, LSI strives to add value to the client's financial supply chain ensuring an effective and efficient capital structure.

Our services include:

Debt Syndication

Private Equity Advisory

Issue Management

Mergers and Acquisitions

Financial Restructuring

Project Advisory Services

Creatingpartners in

value, growth

From The Managing Director’s Desk

Dear Readers,

You may find this Economic Update in the midst festive season with decorative lighting all around. India, being the fifth largest producer and consumer of electricity is currently facing acute shortage due to scarcity of coal, which supports for 56% of India's installed electricity capacity

Under the ‘Power for All’ mission, India has set a target of 88,000 MW of installed capacity by the end of 12th Five Year Plan. The transmission segment has a major role in achieving this mission as an efficient transmission capacity and network will prove essential to transfer power from generating stations to distribution networks. A combination of ageing infrastructure, the rise in use of renewable energy sources, increase in demand for electricity and a need to improve transmission efficiency together with energy security, are translating into growth in the electric power transmission & distribution transformer market.

We have discussed the potential and challenges of Power Transmission and Distribution sector in this issue.

Hope you find the content useful and we look forward to your valuable feedback.

Raj Kajaria

MACROECONOMIC UPDATE

Highlights

l

economic forecast to 3.3% and 3.6% for 2012 and 2013 respectively, as against earlier forecast of 3.4% and 3.9% respectively.

lRBI has kept the repo rate unchanged at 8%. However, it reduced CRR by 25 bps to 4.25%. This would infuse `17,500 crore liquidity into the banking system.

lIndian companies raised `2,211 crore through institutional investors in August 2012 while the cumulative amount mobilised through QIP route during April to September 2012 was `4,651.5 crore as against `2,163 crore in the previous fiscal year.

lDuring the quarter ended September 2012, M&A deals in India decreased by approximately 50% y-o-y to $3.4 billion across 161 deals as against $6.9 billion across 202 deals in the corresponding period of the previous year.

lDuring April-September 2012, India's net direct tax collections surged by 16.32% y-o-y to ̀ 2,26,603 crore as against `1,94,812 crore in the corresponding period of the previous year.

lThe Government approved road projects worth `1,500 crore, which include `899.24 crore investment proposal for building a section of NH-758 in Rajasthan and `600 crore for two-laning of Salasar-Haryana Border section of NH-65.

lIndia's consumer price inflation declined to 9.73% in September 2012 due to marginal fall in fuel and food prices.

lThe Government has approved `3,150 crore for the development of backward regions in Bihar, Odisha, Uttar Pradesh and Madhya Pradesh.

lThe Central Government has signed agreements with 16 States to rollout broadband network with the total cost of `20,000 crore, which would be entirely funded by the Central Government.

International Monetary Fund (IMF) reduced its global

l

healthcare IT sector received $194 million VC fund across 37

deals during the quarter ended September 2012.

lThe HSBC manufacturing PMI of India increased to 52.9 in

October 2012 as against 52.8 in the previous month.

lThe proposals for restructuring debt received by the CDR cell of

RBI increased by nearly 50% y-o-y to `2,45,928 crore in

September 2012 as against `1,64,294 crore in the

corresponding period of the previous year.

lIndian companies raised `7,990 crore through primary market

mainly via rights issue and debt in September 2012 due to

various reform measures announced by the Government.

According to the report by Mercom Capital Group, the

Source: Office of Economic Advisors

IIP sectorwise on y-o-y basis (%)

July ’12

Aug ’12

Min

ing

Manufa

cturi

ng

Capit

al G

oods

Inte

rmedia

te G

oods

Consu

mer

Dura

ble

s

Consu

mer

non-D

ura

ble

s

-0.7

2.0

-0.2

2.9

-1.7

1.9

-5.0-1.1

1.44.0 5.80.1

-40 -20

-20 0

0 20

20 40

Ele

ctri

city

Coal

Cru

de

Refi

nery

Cem

ent

Ste

el

Natu

ral G

as

Fert

iliz

ers

11.0

-1.7-0.6

1.8

-13.5-14.8

8.411.4

-0.1

13.4

2.01.93.7

-2.2

5.7

Inflation on y-o-y basis (%)

All

com

modit

ies

Pri

mary

Art

icle

s

Min

era

ls

Fuel and P

ow

er

20.0

10.0

0.0

Petr

ol

Manufa

cture

d P

roduct

Food P

roduct

s

Basi

c M

eta

l A

lloys

& M

eta

l P

roduct

s

Mach

inery

&M

ach

inery

Tools

Source: Office of Economic Advisors

Aug '12Sep '12

Aug '12Sep '12

Source: RBI

Bank Credit ` croreas on 5th Oct 2012, previous 28th Sep 2012

48,09,380 48,85,250

Key Economic Indicators (Domestic)

Forex Reserve $mlnas on 19th Oct 2012, previous 12th Oct 2012

295,235.2 294,875.8

as on 21st Sep 2012, previous 7th Sep 20128.20-9.11 8.25-9.25Certificate of Deposits %

as on 30th Sep 2012, previous 15th Sep 20128.33-14.50 7.37-14.50Commercial Paper %

latest August 2012, previous July 20122.7 1.0IIP %

latest Sep 2012, previous August 2012

7.81 7.55Inflation %

latest Sep 2012, previous August 2012168.4 166.6WPI for 'All Commodities'


23.7 22.3Export $bln


41.8 38.0Import $bln

21.4

7.8

9.7

11.9

8.38.810.1

6.7

9.5

6.1 6.3

9.89.0 8.17.5

2.52.8

7.6

12.4

Source: MCX

Daily Price Movement of Copper and Crude Oil at Mumbai Exchange (`)

CO

PP

ER

490

430

410

450

470

CR

UD

E O

IL

5200

5000

4800

4600

4400

27-S

ep-1

2

15-O

ct-1

2

18-O

ct-1

2

21-O

ct-1

2

30-S

ep-1

2

3-Oct

-12

9-Oct

-12

6-Oct

-12

12-O

ct-1

2

24-O

ct-1

2

27-O

ct-1

2

l

y-o-y to `4,801 crore in value terms while in volume terms it decreased by 8%y-o-y to 3.21 lakh tonnes as compared to `4,706.17 crore and 3.51 lakh tonnes respectively, in the corresponding period of the previous year.

lAccording to the Oil Minister's estimates, India's oil output is expected to increase by 8% y-o-y to 41.12 Million Tonne (MT) while the natural gas output is likely to decrease by 9% y-o-y to 43 billion cubic metres in the FY2012-13.

lIndia's gems and jewellery export decreased by 14% y-o-y to $3.72 billion in September 2012 as compared to $4.33 billion in the corresponding period of the previous year due to the sluggish demand in the western markets.

lThe Government is planning to increase the import duty on white sugar to 20% from its current level of 10% to control the excess supply in the domestic market.

During October 2011-September 2012, India's coffee exports increased by 2%

COMMODITY UPDATE DEBT UPDATE

l

raise $500-$600 million loan from multilateral funding agencies at a cheaper rate for financing low-cost housing units.

lOriental Bank of Commerce is planning to raise `1,200 crore in the coming 2 months through Tier-II bonds to fund its business expansion plans.

lIndia Inc raised $2.36 billion through ECBs and FCCBs in August 2012 to fund modernization, overseas acquisition and import of capital goods.

lDuring the quarter ended September 2012, the Government's debt increased by 3.6% q-o-q to `39,00,386 crore as against `37,63,264 crore in the previous quarter.

lReliance Industries raised $1.5 billion through an overseas bond sale. The company has raised $4 billion so far in 2012, which include $1.5-billion and $1 billion in February and May 2012 respectively. The fund would be utilized to finance its planned capital expansion programme.

National Housing Bank is planning to

Daily price movement of and in terms of$ € `

Source: www.oanda.com

27-S

ep-1

2

15-O

ct-1

2

18-O

ct-1

2

21-O

ct-1

2

30-S

ep-1

2

3-Oct

-12

9-Oct

-12

6-Oct

-12

12-O

ct-1

2

24-O

ct-1

2

27-O

ct-1

2

DO

LLA

R

EU

RO

55.50

54.00

57.00

58.50

52.50

51.00

70.50

72.00

69.00

67.50

66.00

`/€`/$

Daily Price Movement of Gold and Silver at Ahmedabad Exchange (`)

Source: MCX

SIL

VE

R

GO

LD

34000

30000 55000

59000

57000

63000

61000

32000

31000

33000

27-S

ep-1

2

15-O

ct-1

2

18-O

ct-1

2

21-O

ct-1

2

30-S

ep-1

2

3-Oct

-12

9-Oct

-12

6-Oct

-12

12-O

ct-1

2

24-O

ct-1

2

27-O

ct-1

2

CORPORATE UPDATE GLOBAL UPDATE

PRIVATE EQUITY UPDATE EQUITY UPDATE

lAgro-chemical manufacturing company, Insecticides India Ltd and Japan-based Otsuka AgriTechno is planning to invest around ̀ 500 crore to develop new agro-chemicals in the coming 5 years in India.

lOil India and Indian Oil Corporation jointly acquired 30% stake in Houston-based Carrizo Oil & Gas's Niobrara shale gas asset in Colorado for around ̀ 450 crore.

lNeyveli Lignite Corporation has formed JV with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd for setting up 1,980-MW coal based thermal power project in the State with an investment of ̀ 11,128 crore.

lDHL Supply Chain is planning to invest `700 crore in India to strengthen its logistic infrastructure in the country. The company would set up multi-client sites and add five million square feet of warehousing space in Mumbai, New Delhi & NCR, Gurgaon, Bengaluru, Nagpur, Chennai, Kolkata and Ahmedabad.

lOdisha Power Transmission Corporation Ltd (OPTCL) is planning to form 50:50 JV with Power Grid Corporation of India Ltd or Mahanadi Coalfields Ltd to implement Transmission projects worth `5,000 crore during the 12th Five Year Plan period (2012-17).

lITC is planning to invest `10,683 crore in the coming 5 to 6 years to add 5,000 rooms to its hotel portfolio.

lIndian Hotels Company is planning to acquire Orient-Express Hotels Ltd for $1.86 billion.

lAccording to Venture Intelligence, India's PE investment increased by 4.4% y-o-y to $2.5 billion across 97 deals during the quarter ended September 2012 as against $2.4 billion across 120 deals in the corresponding period of the previous year.

lAccording to Grant Thornton report, PE investment in the FMCG sector increased to $337.96 million across 11 deals during January-September 2012 as against $71.30 million across 7 deals in the corresponding period of the previous year.

lDuring January-September 2012, PE investment in the real estate sector declined by 15% y-o-y to `3,500 crore as against `4,110 crore in the corresponding period of the previous year due to concerns on the Government policy coupled with an uncertain investment scenario, valuation and continued focus on exits by some vintage funds.

lPE firm, CX Partners is planning to invest `150 crore in Transaction Solutions International (India) Pvt Ltd, an ATM outsourcing and payment company, to acquire more than 70% stake in the company.

lStandard Chartered PE has invested around ̀ 165 crore in the largest bottler for PepsiCo in South Asia, Varun Beverages. The fund would be utilized for the buyout of Pepsi's minority stake in its subsidiary.

lPE fund, Blackstone owned CMS Info Systems is planning to invest ̀ 200 crore in the coming 3 years to fund its expansion plans.

lFidelity India Capital is planning to acquire 35%-40% stake in Trivitron Healthcare for ̀ 400 crore.

lBlackstone Capital Partners has signed an agreement to acquire 12.5% stake in International Tractors Ltd for ̀ 520 crore.

lStandard Chartered PE (Mauritius) III Ltd would invest $35 million in Prime Focus Ltd by subscribing to the equity shares of the company on preferential basis.

lVerlinvest SA has acquired approximately 10% stake in Future Ventures India for around ̀ 110-130 crore.

lDuring January-September 2012, global M&A deals declined by 19.4% y-o-y to $1,426.5 billion as against $1,769.3 billion in the corresponding period of the previous year.

lEuro Zone Finance Ministry is planning to launch $653 billion bailout fund, which would be a major defence against the debt crisis in Spain.

lChina's GDP and Industrial output grew by 7.4% y-o-y and 9.2% y-o-y respectively, for the quarter ended September 2012

lIndia and Spain have signed an agreement for amending a double taxation avoidance pact which was over 19-year old.

lThe unemployment rate of USA surged to 7.9% in October 2012 as against 7.8% in the previous month.

lV-mart is planning to raise 120 crore through IPO to fund its expansion strategy, which is to almost double its showrooms to 120 outlets by 2015. The company is also eyeing to expand its business in North-Eastern region and aims to have presence in all the States.

lInternational Tractors Ltd is planning to raise `800 crore through IPO. The proceeds would be util ized for acquisitions in the tractor and the SUV segments in Europe.

lFortis Healthcare has raised over ̀ 2,300 crore by selling about 70% stake in its business trust, Religare Health Trust through an IPO listed in the Singapore Stock Exchange.

`

INDUSTRY FOCUS - POWER TRANSMISSION AND DISTRIBUTION

l

electricity in the world after USA, China, Japan and Russia.

Electricity production in India (excluding captive

generation) stood at 835.3 terawatt (TWh) in the

FY2010-11.

lIndian Transmission & Distribution network is of 5.7 million

circuit kilometer (ckt. km) which is the 3rd largest in the

world.

Power Transmission

lAt the end of the FY2011-12, India's transmission network

comprised of 274,882 ckt. km of 220 KV and high-voltage

lines together with 383,465 MVA of transformer capacity

at the 220 KV and above voltage levels.

lThe transmission line length has grown at a CAGR of 7%

between 2007-08 and 2011-12. The growth is mainly

driven by 765 KV and 400 KV lines, with the length of 765

KV lines doubling between 2009-10 and 2011-12.

India is the fifth largest producer and consumer of l

MW as of March 2012, against the actual Eleventh Plan (2007-12) target of 32,000 MW. The capacity growth being slow in the past 3 to 4 years, the remaining planned capacity will be commissioned in the 12th Five Year Plan.

lPresently, around 12,300 ckt. km of transmission lines are under development by the private sector at an estimated cost of over 200 billion, while another 1,500 ckt. km is expected to be awarded shortly through the bidding route by the Central and the State Governments.

lDuring the 12th Five Year Plan, the transmission target has been set at 109,440 ckt. km of line length and 270,000 MVA of substation capacity. About 27,000 ckt. km will be at the 765 KV voltage level. The high voltage direct current (HVDC) capacity is expected to almost double from 13,500 MW at present to 26,500 MW by the end of the Twelfth Five Year Plan period. The inter-regional transfer capacity is targeted at either 37,800 MW or one and a half times the existing transfer capacity.

The inter-regional transmission capacity stood at 28,000

`

Expected twelfth plan transmission network additions

Particulars

Interregional capacity (MW) 25,65025,650

25,650

9,452

4,164

268,000

394,000

37,800

13,000

9,440

27,000

109,440

270,000

63,450

26,500

18,892

31,164

379,011

642,894

HVDC capacity (bipole/BTB) (MW)

Transmission lines (ckt. km )

HVDC bipole

765 KV

Total lines (all voltages) (ckt. km)

Substation (MVA) (AC+HDVC)

Eleventh Plan end Twelfth Planadditions

Twelfth Plan end(Expected)

Source: Central Electricity Authority, BTB: Back-to-Back; HVDC: High voltage direct current; AC: Alternate current

l

AC network with approximately 90,000 circuit kilometers of line length.

lThe estimated total fund requirement for transmission system by the 12th Five Year Plan has been assessed at $42 billion.

lThe nodal agency for providing long term open access in the Inter-State transmission is the Central Transmission Utility (CTU). Till March 2011, CTU has received around 187 Long Term Access (LTA) applications for transfer of power from their generation projects with capacity of about 1,77,000 MW to various target regions of which LTA has been granted to 135 applicants with capacity of about 1,17,000 MW.

lThe Government has approved 14% ROE in generation and transmission schemes.

Challenges in the transmission sector:

lA serious issue for both public and private transmission developers is procedural delays in land acquisition, obtaining RoW, environmental & related statutory clearances and equipment deployment, particularly in hostile terrains.

The transmission system in India is mainly through 400 kV l

Intra-State level, constraining the flow of power from surplus to deficit areas as well as ineffective implementation of open access transactions.

lLack of coordination between various ministries and agencies, and between transmission planning and implementation.

Private participation in power transmission:

lThe Government has set a target to add 1 lakh MW of generation capacity in the 12th Five-year Plan to fulfill its promise of 'Power for All'. While looking at this additional generating capacity of 1 lakh MW, the most essential block that needs to be put in place is efficient transmission capacity and network.

lPower transmission in India was restricted to Central and State utilities until the year 2006. Though the Electricity Act, 2003 opened doors for private sector participation in the power sector, private investment in transmission started in 2006. Private sector investment was allowed in the form of 100% PE or as a 74% JV with the CTU (Central transmission utility).

lThe huge capital required for building efficient

Another key issue has been inadequate investments at the

transmission infrastructure has attracted numerous domestic and international players. Total outlay for transmission sector in the 12th Five Year Plan is estimated at 2.4 trillion.

lrivate sector participation in transmission is inevitable with such huge potential for investment. Increase in power

`

P

generation capacity will result in steady order flows for T&D, providing ample opportunities for private players. Partnership between private players and Central/State utilities will ensure efficient and optimum operation of the transmission system thereby reducing system losses, voltage fluctuations and power pilferage.

Private participation in intra-state power transmission

Ownership Privateequity (%)

Mode State KV Cost( crore)`

Company/SPV

Jaigad Power Transco Ltd

Maharashtra Eastern Grid Transmission Co Ltd

Jhajjar KT Transco

Maru Transmission Service Co Ltd

Aravali Transmission Service Co Ltd

Shekhawati Transmission Service Co Ltd

South East UP Power Transmission Co Ltd

Western UP Power Transmission Co Ltd

JSW Energy

Adani Power

KPTL+Techno

GMR Energy

GMR Energy

Emco

Isolux Corsan

Cobra+MEIL

74

74

100

100

100

100

100

100

JV

JV

DBFOT

BOOM

BOOM

BOOM

BOOM

BOOM

Maharashtra

Maharashtra

Harayana

Rajasthan

Rajasthan

Rajasthan

Uttar Pradesh

Uttar Pradesh

400

765

400

400

400

400

765

765

488

4,379

450

200

NA

NA

870

875

Source: www.electricalmonitor.com, DBFOT: design, build, fund, operate and transfer model. BOOM : Build own operate maintain.

Power Distribution

lPower distribution is the final and most crucial link in the electricity supply chain and unfortunately, the weakest one in the country. It assumes great significance as the segment has a direct impact on the sector's commercial viability and ultimately on the consumers who pay for power services.

lThe sector has been plagued by high distribution losses coupled with theft of electricity, low metering levels and poor financial health of utilities with low cost recovery.

lThe sector has started receiving greater attention and investment with the restructuring of the State Electricity Boards (SEBs). Several new initiatives have been introduced to reduce aggregate technical and commercial (AT&C) losses along with a definitive regulatory framework. Electricity Act 2003, National Electricity Policy 2005 and National Tariff Policy 2006 are important

regulations governing the sector with an aim to bring competition in the sector and improve the services to the end consumers.

lThe distribution segment continues to carry electricity from the point where transmission leaves off, that is, at the 66/33 kV level. However, depending upon the quantum of power and the distance involved, lines of appropriate voltages are laid.

lDuring the 12th Five Year Plan, a capacity addition of approximately 88,000 MW is expected at an investment of 3.06 lakh crore in the distribution sector.

lOver 90,000 MW of new generation capacity is required in the next 7 years. A corresponding investment is required in transmission and distribution networks.

lThe present power cost need to be reduced by 8-10% /unit through a combination of lower AT & C losses, increased generation efficiencies and low cost generating capacity.

`

Estimates of physical & financial requirement for distribution during 12th Five Year Plan(capacity addition 75000 MW)

Sl. No. Name of Segment Units Physical Financial(` crore)

New Lines

i.

ii.

iii.

33 KV O/H line

33 KV U/G Cable(30%)

Total 33 KV line

11 KV O/H line

11 KV U/G cable

Total 11 KV line

LV O/H

LV ABC

Total LV

Contd.....

ckt. km

ckt. km

ckt. km

ckt. km

ckt. km

ckt. km

ckt. km

ckt. km

ckt. km

121500

13500

135000

448000

112000

560000

488000

122000

610000

9720

4050

22400

22400

24400

9760

I.

II. Installation of new S/S

33/11 KV(2X10 MVA)

No of 10 MVA Transformers

Transformation capacity

No

No

MVA

4400

8800

88000

22000

Snapshot of key financials of Indian power transmission & distribution majors for the FY2011-12

Sl. No. Name of Segment Units Physical Financial(` crore)

MVA

No

No

No

MVAR

ckt. km

ckt. km

ckt. km

No

No

No

No

MVA

MVA

105000

10500

33500

50000000

100000

500000

1000000

67000

105000

210000

424000

850000

50000

50000

16000

Installtion of DTs including all accessoriesIII.

IV.

V.

VI.

VII.

1000 KVA

630 KVA

Total No of DTs

Aug of Sub-Station

33/11 KV

11/0.4 KV

Capacitors

Service Connections

Re conductoring of lines

(i) 33 KV

(ii) 11 KV

(iii) LV

SUB TOTAL

Productive Load Scheme

Smart Grid

IT facilities,& SCADA including HRD

R&D

TOTAL

315 KVA

200 KVA

100 KVA

25 KVA

3000

10000

20000

224770

61940

9500

10000

25

306235

3350

4020

5250

8400

8480

10000

10000

1280

25000

1260

Source: Report of the Working Group on Power for 12th Five Year Plan


0.69

Parameters

Net Sales ( crore)`

Total Income ( crore)`

Operating Profit ( crore)`

PBDIT ( crore)`

PAT ( crore)`

Operating Profit Margin (%)

PAT Margin (%)

Debt Equity Ratio

Current Ratio

Tata Power

8,569.08

9,545.60

1,791.57

2,768.09

1,169.73

20.90

12.44

0.78

1.48

ReliancePower

66.12

531.85

-91.52

374.21

310.86

-138.41

4.70

0.01

55.11

Torrent Power

7,886.90

7,970.36

2,256.12

2,339.58

1,237.46

28.60

15.52

0.55

0.71

Adani Power

3,948.90

4,044.98

1,239.43

1,335.51

-293.92

31.38

-6.93

4.11

Powergrid

10,035.33

10,785.01

8,382.38

9,132.06

3,254.95

83.52

30.18

2.21

0.90

Jsw Energy

5,016.42

4,978.83

1,214.22

1,176.63

234.64

24.20

4.61

0.81

1.24

lThe power sector in India is experiencing a large demand-supply gap. Hence, the country possesses a vast opportunity to grow in the field of power generation,

transmission, and distribution. This has called for an effective consideration of some strategic initiatives.

Initiative by the Government for the power sector

lAllowing FDI of up to 100% in the power sector under the automatic route.

lEncouraging the private sector to set up coal, gas or liquid-based thermal projects, hydel projects and wind or solar projects of any size.

lConstitution of Independent State Electricity Regulatory Commissions in the States.

lIntroduction of the Electricity Act 2003 and the notification

of the National Electricity and Tariff policies.

lProvision of income tax holiday for a block of 10 years in

the first 15 years of operation and waiver of capital goods' import duties on mega power projects (above 1,000 MW generation capacity).

lIn order to provide low cost funds to some infrastructure

sectors including power, the rate of withholding tax on interest payments on External Commercial Borrowings (ECBs) is proposed to be reduced from 20% to 5% for 3 years.

Major upcoming projects in the power sector of India


Name of the Project

20 MW Hydel Power

37 New Mini Hydel Power Projects

Amrit Bio Power Project at Jagi Road

(10MW)

Bordikrio Power Project (4.7 MW)

Subhag Power Project (3MW)

Rupai Power Project (0.4 MW)

State

Assam

Assam

Assam

Assam

Assam

Assam

Cost (` crore)

120

750

47.38

46.93

15.26

3.7

Sponsoring

Authority

Assam Power Generation Corp. Ltd

Assam Power Generation Corp. Ltd

Assam State Electricity Board

Desang Small Hydro Electric Power

Project (9 MW)

Assam 65.57 Assam State Electricity Board


SRET Dhomdhama Power Project

(10MW)

Assam 238 Assam State Electricity Board

Champawati Power Project, Kokrajhar

(2.25 MW)

Assam 15.66 Assam State Electricity Board

CESIPL, Tejpur (2.22 MW) Assam 19.68 Assam State Electricity Board



Small Hydro Power Generation Station at

Damanganga (Madhuban) Dam

Gujarat 15.8 Narmada, Water Supply, Water Resources

Department, Government of Gujarat


Karjan Dam




Wanakbori Dam



Establishment of 765kV S/S at Koradi,

Dist. Nagpur, Akola, Aurangabad

Maharashtra 3382 Maharashtra State Electricity Board

400 kV D/C Babai -Jaipur (North)

(Twin Moose) line along with 400/220 kV

GSS at Jaipur (North)

Rajasthan 221.8 Rajasthan Rajya Vidyut Prasaran

Nigam Ltd

400 kV AKAL - Jodhpur (New) D/C line

(Quad Moose) -240 Km

Rajasthan 512.27 Rajasthan Rajya Vidyut Prasaran

Nigam Ltd

Disclaimer: This report is based on publicly available data and other sources that we consider reliable. While every effort is made to ensure the accuracy and completeness of information contained, we do not represent that it is accurate or complete and do not take liability for errors or omission. LSI Financial Services Pvt Ltd shall not be liable for any direct or indirect damages that may arise due to any act or omission on the part of the user due to any reliance placed or guidance taken from any portion of this report.

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011 46628817 011 46628851 [email protected]

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Unit 8, 4th Floor, Trade World WingKamala Mills Compound, Lower Parel, Mumbai 400013

022 66702000/04 022 66702005 [email protected]

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