The Hindu : Cauvery Neeravari Nigam to float bonds

Online edition of India's National Newspaper
Saturday, Jun 28, 2003

Southern States

Southern States - Karnataka

Cauvery Neeravari Nigam to float bonds

By Our Staff Correspondent

MYSORE JUNE 27 . The Managing Director of Cauvery Neeravari Nigam, T. Timme Gowda, said today that the nigam would float bonds in mid-July to finance the works taken up in the Cauvery Basin.

Addressing presspersons here, he said works in the Cauvery Basin were expected to be completed in three years after raising funds. The nigam planned to raise nearly Rs. 1,500 crore during the current financial year.

Stating that there were nearly 10,000 works in the Cauvery Basin, he said Rs. 3,777 crore was needed to complete major works that were pending. Nearly Rs. 5,000 crore would be needed to complete irrigation-related works in the Cauvery Basin. Eight lakh acres of land had irrigation facility, and it would be extended to nearly one lakh acres more this year. All projects were time-bound, and the nigam would monitor them.

Mr. Timme Gowda said the Cauvery Basin had been divided into Cauvery South, Gorur, and Tumkur zones for the implementation of irrigation projects. Smaller works such as canal improvement, lining, and lift irrigation projects would also be taken up.

He said Rs. 2,215 crore was needed to complete projects coming under the Hemavathy, those coming under the Votehole needed Rs. 47 crore, those coming under the Yagachi needed Rs. 148 crore, Varuna and the Kabini Rs. 1,039 crore, Cauvery Rs. 245,8 crore, and projects under the Chikklehole and Harangi needed Rs. 81 crore.

He said the nigam had been set up following the success of Krishna Bhagya Jala Nigam. The nigam would monitor irrigation-related works in Mysore, Mandya, Hassan, Chamarajanagar, Kodagu, Bangalore, Tumkur, and Chikmagalur districts.

Mr. Timme Gowda said the main objective of the nigam was to complete the irrigation projects in the Cauvery Basin, and maintain, operate, and modernise them. Among others, the nigam would be involved in conservation of water, comprehensive studies on water management, and application of modern techniques. It would promote drip and sprinkler irrigation, and educate farmers on participatory irrigation management. The nigam would involve itself in the protection of the environment, development of navigation, irrigation, and fisheries in the Basin. The works undertaken by the nigam would be within the ambit of the tribunal award.

He said the Chief Minister was the Chairman of the nigam and the Water Resources Minister its Vice-Chairman. The Chief Secretary, the Principal Secretary (Water Resources), and the Secretary (Water Resources) would form the board of directors, he added.

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