Power sector performed well, APGECO earned profits: Minister

Hyderabad, May 8 (UNI) The power sector in state had performed well during the last three years and both Andhra Pradesh Power Generation Corporation (APGENCO) and AP Transmission Corporation (APTransco) earned profits, wiping out all accumulated losses.

Addresing a press conference here today, Energy and Coal Minister Mohd Ali Shabbir told newspersons that the power utilities in the state have been receiving awards as the number one utilities in the country, consistently for the last three years.

He said APGENCO, which suffered losses worth Rs 450 crore during TDP rule in 2003-04, had earned a net profit of Rs 145 crore during 2006-07.

He also said, for the first time, all the five companies (APTransco and four distribution companies) have achieved turnaround and ended the year 2005-06 with a proift of Rs 291 crore.

The Minister said AP power sector secured first rank in CRISIL rating in 2004-05 and 2005-06 and APTRANSCO was adjudged best in the country in transmission availability for the year 2005-06 with 99.87 per cent by Union Power Ministry and received gold shield from Prime Minister Manmohan Singh.

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