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Indian Real Estate News : Delhi NCR
Power crisis: Noida industries threaten to leave
Source: Aug 07, 2012
Industrialists have threatened the state government that they will move out of Uttar Pradesh if power supply is not regularized to their production units. Industrial sectors faced outages of more than 16 hours a day last week even after power supply from the Northern Grid was restored. Industrialists complain that lack of adequate power has not only forced them to cancel future orders but has also led to lesser profits making them unable to pay back bank loans. "Even though there is a roster for power supply to industries, several sectors are only supplied electricity for 4-5 hours a day," said president of Noida Entrepreneurs' Association, Vipin Malhan. "If industries continue to suffer losses, we will have no alternative but to shift base to neighboring states which ensure adequate power supply," added Malhan. The acute power crisis has forced industrialists to write to Samajwadi Party supreme Mulayam Singh Yadav demanding his intervention to end the crisis. Industrialists have complained that they are forced to pay fixed charges to the power distribution companies to avail connections, irrespective of whether or not they are supplied power. "Over 90% of industrialists in the city have availed of bank loans to set up industries. With no production, it has now become difficult for us to pay back these loans," said Malhan. Even after the restoration of supply from the Northern Grid Paschimanchal Vidyut Vitaran Nigam Limited, is yet to ensure round-the-clock power supply to the industries. The discom had informed that industries would get 12-hour power supply from August 5-15. "However, Lucknow ordered us to increase supply to 16 hours on August 6," said CL Gupta, superintending engineer of PVVNL.
Tag: india real estate, delhi properties, delhi NCR real estate
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