By IANS,
Hyderabad : Prime Minister Manmohan Singh Wednesday stressed the need for afordable power and said the gap between the su[pply and demand for power must be bridged to attain high rate of economic growth on a sustained basis.
He was speaking at a public gathering after laying the foundation stone for a power equipment manufacturing plant at Mannavaram village in Chittoor district of Andhra Pradesh.
“Availability of affordable power is of critical importance for our country’s development. We must bridge the gap between the supply and demand of power if we are to achieve higher rates of economic growth on a sustained basis,” Singh said.
He said his government has drawn up an ambitious programme for additional power generation in the 11th and 12th five year plans.
“This large addition in power generation capacity will mean a much larger demand for power equipment. I am very happy that our public sector has come forward to take a lead in manufacturing power equipment in our country to help us achieve our targets in the power sector,” Singh said.
The equipment plant in Chittoor district is being built by NTPC-BHEL Power Projects Private Limited (NBPPL), a joint venture between National Themal Power Corporation (NTPC) and Bharat Heavy Electricals Ltd (BHEL).
The plant will produce power equipment required for additional capacity of 5,000 MW per annum by 2014-15.
Heavy Industries Minister Vilasrao Deshmukh said the project would be completed in five years.
The prime minister said the project with an investment of Rs.6,000 crore would provide direct employment to about 6,000 men and women and indirect employment to 25,000 people.
He hoped the project would go a long way in improving the economic conditions of people of the backward region.
“It is a moment of pride but it is also an occasion to pay homage to a tall leader, Y.S. Rajasekhara Reddy. Tomorrow (Thursday) is his first death anniversary. It was his untiring efforts that brought this project to this backward area of Chittoor district,” Singh said.
“The manufacturing plant being set up here will always remind us of the great love and affection that Rajashekharji had for the people of Andhra Pradesh and this area. It will stand testimony to the concern he felt for the welfare of his people,” he added.
Andhra Pradesh’s Minister for Major Industries Kanna Lakshmi Narayana said the state government has allotted 783 acres for the project.