Kolkata: Power utility Calcutta Electric Supply Corporation (CESC) plans to spend Rs 2,000 crore over the next three to five years to strengthen its distribution network, a top company official said here on Monday.
"We will source the fund through internal accruals," CESC Vice-chairman Sanjiv Goenka said.
The company will utilise the fund for network augmentation and setting up of more control systems, reports IANS quoting Goenka.
CESC on Monday signed an agreement with SP Global Solutions (SPGS), a subsidiary of Singapore Power, one of Asia Pacific's leading energy utilities, for consultancy support to improve power distribution in the CESC licensed area.
CESC is the flagship company of RPG Enterprises and supplies electricity to Kolkata and suburbs. It will pay an annual fee of Rs 6 crore to SPGS for its consultancy service.
"This is mostly a technology transfer agreement," Goenka said, adding that the company expected to cut down on power disruption through the tie-up.