The Hindu : KNN to raise Rs. 500 cr. by July

Online edition of India's National Newspaper
Friday, Jun 20, 2003

Southern States

Southern States - Karnataka-Bangalore

KNN to raise Rs. 500 cr. by July

By Our Special Correspondent

Bangalore June 19. The first meeting of the newly constituted Kaveri Neeravari Nigam (KNN), held under the chairmanship of the Chief Minister, S.M. Krishna, today decided to mobilise Rs. 500 crore by July to raise funds for 23 pending projects in the Cauvery Basin.

Giving this information here today, the Water Resources Minister, H.K. Patil, who is the KNN Vice-Chairman, told presspersons here that the organisation's Managing Director, T. Thimme Gowda, had been asked to start mobilisation of funds.

Mr. Patil said the Government had already spent Rs. 3,341 crore as on March 31 this year on these projects. The additional amount required was about Rs. 3,550 crore. Apart from these projects, several lift irrigation schemes would be transferred to the KNN, he added.

The meeting discussed the various possibilities of funding of projects, including raising bonds, private placements, and external borrowings, and Mr. Thimme Gowda had been asked to work out details and start mobilisation of funds.

Among the 23 projects to be taken up are Harangi, Chikkihole, Kabini, Udutorehalla, Devaraj Urs Canal, Taraka, Manchanabele, Arkavati, Kanwa, KRS modernisation, and Nugu lift irrigation. Some of them are pending for 20 years.

Mr. Patil said that during the meeting, the Chief Minister stressed the need for focussing attention on optimum utilisation of water, and instructed that steps be taken to formulate a plan of action for the timely completion of the projects.

Presiding over the first meeting of the KNN, Mr. Krishna said that it should provide subsidies to farmers to go in for sprinkler and drip irrigation. Farmers should also be educated on the optimum use of water.

The KNN office will be located on the premises of the Divisional Commissioner's office in Mysore.

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