Boost for power sector in Puducherry with Japanese loan: CM

Power sector infrastructure in Puducherry would be upgraded with a Rs 746-crore loan from the Japan International Cooperation Agency (JICA), chief minister V Narayanasamy said Friday. Talking to reporters after a cabinet meeting here, he said the Centre had accorded in-principle sanction for the loan.

Setting up of power stations, transformers and also replacement of the infrastructure to ensure a reduction in the loss in power transmission would be taken up with the loan, he said. JICA would offer a soft loan at one percent rate of interest and the loan was repayable in 25 years, he said.

The power improvement plan would also help meet the power requirement fully. He said the cabinet also finalized a scheme to provide subsidy to the all-women self-help groups to meet part of the interest burden of bank loan.

The skill development plan was also decided to help rural youth develop their efficiency in various self-employment projects, Narayanasamy said. Dairy farmers would be provided assistance to augment milk production to meet the demand. Presently, the union territory needed two lakh liters of milk every day, he said.