RPG Enterprises flagship CESC Ltd today inked a pact with Singapore Power to revamp its distribution network in Calcutta. The company will invest Rs 2,000 crore over the next 3-5 years to reduce accidental disruptions in electricity supply.
Under the one-year agreement, the Singapore firm will provide technological inputs to improve CESC’s distribution system.
CESC vice-chairman Sanjiv Goenka said the move was aimed at upgrading the company’s network to global standards. “It is an aspirational move. Don’t expect the outage (accidental disruptions) to reduce overnight,” Goenka said.
“It was not so difficult to increase the plant load factor (capacity utilisation). Here, you have to motivate 8,000 employees to work in a different fashion than they did. There are many external issues (power theft) to be tackled as well,” he said. The agreement with Singapore Power can be renewed after a year. “We will review our association then and decide on the next move,” Goenka said.
Ong Boon Hwee, chief operating officer of Singapore Power, and Sumantra Banerjee, managing director of CESC, were also present at the announcement of the deal here today. CESC will have to shell out Rs 6 crore to the Singapore firm.