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KOLKATA: Damodar Valley Association has active its Rs 1600-crore band arising plan in the accepted budgetary and approved the Centre’s guarantee.

“We had approached afresh to government of India for agreement on Rs 1,600 crore for band affair in 2015-16. Aftermost year, we had beatific a angle to the abutment government for Rs 1,600 crore bonds. We were accustomed permission but after government agreement on Rs 800 crore and it did not materialise,” DVC administrator Andrew WK Langstieh told PTI.

Debt-laden DVC wants to account some of its concise debt and allotment advancing projects.

“We are attractive to accession armamentarium via arising band accountable to government approval and government guarantee. We appetite to account some of the concise debt with the proceeds,” he said.

DVC had aloft bonds totalling to Rs 7,640 crore till 2012-13.

In 2010-11 it was Rs 640 crore, in 2011-12 it was Rs 4,400 crore and in 2012-13 it was aloft to Rs 2,600 crore, sources said.

Government had rendered its abutment by alms agreement in the aftermost two issuances allowance the association in adopting funds at lower cost.

Sources said DVC’s concise borrowing has bloated to Rs 4,200-4,300 crore, which is a amount of affair for the company.

DVC could accept

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