Document of

The World Bank

FOR OFFICIAL USE ONLY

4v 32 3' 7 - /A/

Report No. P-5196-1

MEMORANDUM AND RECOMMENDATION

OF THE

PRESIDENT OF THE

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

TO THE

EXECUTIVE DIRECTORS

ON A

PROPOSED LOAN

IN AN AMOUNT EQUIVALENT TO US$485 MILLION

TO INDIA

FOR THE

NORTHERN REGION TRANSMISSION PROJECT

JUNE 4, 1990

This document has a restricted distribution and may be used by recipients only in the performance oftheir officisi duties. Its contents may not otherwise be disclosed without World Bank authorization.

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

CURRENCY EQUIVALENTS

Currency Unit = Rupees (Rs)Rs 1.00 = Paise 100US$1.00 = Rs 17.00Rs 1,000,000 = US$58,823

MEASURES AND EQUIVALENTS

1 Kilovolt (kV) = 1,000 volts (V)1 Kilovolt ampere (kVA) = 1,000 volt-amperes (VA)1 Megavolt Ampere (MVA) = 1,000 kilovolt ampere (kVA)1 Megawatt (MW) = 1,000 kilowatts (kW) = 1 million watts

ABBREVIATIONS AND ACRONYMS

CEA - Central Electricity AuthorityGOI - Government of IndiaNHPC - National Hydroelectric Power CorporationNJPC - Nathpa Jhakri Power CorporationNPTC - National Power Transmission Corporat3onNTPC - National Thermal Power CorporationNREB - Northern Region Electricity BoardNRLDC - Northern Region Load Dispatch Center

Fiscal Year

April 1 - March 31

FOR OFFICIAL USE ONLY

INDIA

NORTHERN REGION TRANSMISSION PROJECT

Loan and Project Summary

Borrower: India, acting by its President.

Beneficiaries: National Hydroelectric Power Corporation (NHPC).

Amount: US$485 million equivalent.

Terms: Repayment over 20 years, including 5 years' grace, atthe Bank's standard variable interest rate.

Onlending Terms: Government of India (GOI) to NHPC, approximatelyUS$430 million, with repaymernt over 15 years,including three years' grace, at an interestrate of not less than 14Z per year. GOI bears theforeign exchange and interest rate risks.

Financing Plan: IBRD US$ 485.0 millionJapanese Grant Facility US$ 1.1 millionNHPC US$ 86.3 millionGOI US$ 607.4 million

TOTAL US$1,179.8 million

Economic Rate of Return: 152

Staff Appraisal Report: No. 8172-IN, dated June 4, 1990

Map: IBRD No. 21690

This document has a restricted distribution and may be used by recipients only in the performanceof their official duties. Its contents may not otherwise be disclosed without World Bank authorization.

MEMORANDUM AND RECOMMENDATION OF THE PRESIDENTOF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

TO THE EXECUTIVE DIRECTORSON A PROPOSED LOAN

TO INDIAFOR THE NORTHERN REGION TRANSMISSION PROJECT

1. I submit, for your approval, a proposal for a loan to India in anamount equivalent to US$485 million. The proposed loan, to help financethe Northern Region Transmission Project, will be issued at the standardIBRD variable interest rate, and will be repayable over 20 years includinga five-year grace period. The Japanese Grant Facility is providing aboutUS$1.1 million to finance consulting services. The Government is seekingadditional cofinancing of about US$60 million for equipment.

2. Background. The Northern Region is the largest of India's fiveregional power systems. It includes the States of Haryana, HimachalPradesh, Punjab, Rajasthan, Jammu and Kashmir, Uttar Pradesh, and the UnionTerritories of New Delhi and Chandigarh. The power system comprises about16,000 MW of generating plant interconnected with load centers by heavilyloaded 220 kV and 400 kV networks. The system extends 1,800 km fromhydroelectric plants in the north to superthermal, pit-head plants in thesoutheast of the region. The peak load in the system is over 9,000 MW andis constrained by the available supply. Already the power system is nearlyas large as some national systems, and if demand in the region grows at thepredicted IOZ yearly rate, by 1995 the power system will be comparable insize to Sweden's power system today. However, it is growing much faster,at about four times the rate of Sweden's system, and as a result is muchmore difficult to manage.

3. Existing institutional arrangements call for the Northern RegionLoad Dispatch Center (NRLDC) in New Delhi to coordinate operation of theregional power system. Each state and each central government generatingagency has its own area control organization. In practice, however, thesystem fails to achieve secure operation and economic dispatch for fourmain reasons: (a) not enough data are telemetered to make the NRLDC awareof what is happening on the system; this reduces its role to reviewing theexecution of pre-arranged contracts and analyzing outages after they haveoccurred; (b) the member states of the Northern Region Electricity Board(NREB) often ignore prearranged contracts and take more than their share ofpower; (c) the structure of bulk tariffs and the linkage of power plantstaff salaries to plant load factor inhibit economic dispatch of the powerplants; and (d) there are no commercial arrangements for power trading.

4. As a result of the heavily loaded transmission network and thecontrol deficiencies mentioned above, the power system operates with highlosses and delivers expensive, poor quality, unreliable service to itscustomers. To derive full benefit from its investments in additionalgeneration, GOI must: (a) provide adequate transmission line and substationcapacity to allow power to flow as dictated by security and economicdispatch criteria; (b) upgrade information and control facilities for real-time monitoring of power system security and for informing members of theNREB of opportunities for economic power trading; and (c) set up commercialarrangements for Dower trading.

5. Initially, GOI conceived the proposed project to evacuate power fromthe Bank-financed Nathpa Jhakri plant under construction in HimachalPradesh. Later, GOI expanded the project scope to include the majortransmission links that will be required in the region over the next six orseven years, and the load dispatch system that will be needed to monitorand control the increasingly complex power system. The proposed projectnow provides for evacuating power from existing and proposed hydroelectricplants in Himachal Pradesh and Jammu and Kashmir. The transmission linesand substations included were defined in a least-cost transmission studyprepared by the Central Electricity Authority (CEA) and reviewed by theBank. The load dispatch and system control facilities were defined in astudy prepared by NREB and reviewed by the Bank. These facilities willmake It possible for the power system to operate in a manner consistentwith security and economic dispatch criteria.

6. GOI has recently created an institutional vehicle for improvingoperation of the transmission system by iorming the National PowerTransmission Corporation (NPTC). NPTC will be responsible for buildi.,g,maintaining, and operating regional transmission grids. An important goalof the proposed project will be to support development of the NPTC. Inparticular, the project will provide systems to facilitate the applicationof the tariff structure and commercial arrangements needed for economicdispatch and better quality service.

7. Rationale for Bank Involvement. The proposed project is consistentwith the Bank's strategy of promoting improvements in India's power sector.This strategy involves the Bank working closely with bcth central sectorentities and selected State Electricity Boards. Through its involvementwith central sector entities, the Bank seeks to promote improvements inareas that are common to the sector or a large part of it. For example,the project will significantly reduce the cost of bulk power in theNorthern Region, and will lead to better quality electricity and thus moreeffective use of available resources. In addition, the Bank's involvementwith the project helped reduce NHPC's receivables and will support afinancial recovery program for NEPC. This will lead to improved financialdiscipline in the sector.

8. The Bank perceived a need for better planning and increasedinvestment in transmission when it approved the Rihand Transmission loan(Loan 2555-IN), which required CEA to produce a long-term transmissionstudy. The proposed project is a logical follow-up to the transmissionstudy since it provides some of the facilities recommended in the study tocorrect existing deficiencies. The technological and institutionaldevelopments pursued in the proposed project are likely to benefit theentire power sector: the Northern Region directly and the remainder of thecountry, by example.

9. Project Objectives. The primary aim of the proposed project is toimprove the reliability, operating efficiency, and quality of service inthe Northern Region power system. These improvements will be effectedthrough the provision of: (a) transmission lines and substations tostrengthen the interconnection of power plants and load centers; (b) a loaddispatch system to monitor and control the power system; (c) a commercial

-3-

framework to encourage better use of the available energy; and (d) acommunication system to improve NHPC's corporate and project management.

10. Project Description, Costs, and Financing. The proposed project,which both NHPC and NREB will implement, will consist of two parts: (a) theconstruction of transmission lines and substations; and (b) strengtheningof the regional dispatch system. NHPC's portion of the project consistsof: (a) construction of 1,100 km of 400 kV double-circuit line, 325 km of400 kV single-circuit line, 600 km of 765 kV single-circuit line, and 40 kmof 220 kV single-and double-circuit line; (b) construction/modification ofnine substations with a total capacity of 2,500 MVA; (c) installation of asatellite-based corporate communication system for NHPC; (d) consultingservices for t,-ansmission line and substation design, inspection services,and training; and (e) compensatory afforestation. NREB's portion of theproject consists of: (a) installation of a regional load dispatch andcontrol system; (b) consulting services for design, procurement, andsupervision; and (c) training. In parallel with the proposed project, GOIis actively considering two-part tariffs for bulk supplies from centralutilities--to be introduced principally for NHPC and the National ThermalPower Corporation (NTPC).

11. The proposed project will be completed in about eight years and willcost about US$940 million. Interest during construction will add anadditional US$185 million. The cost of the project includes about US$731million of foreign exchange (62Z of the total). Schedule "A" presents thecost estimates and financing plan for the project. Schedule "B" presentsthe arrangements for procurement and disbursement. Retroactive financingof up to US$5.0 million will be provided for eligible expenditures afterMay 31, 1990. Schedules "C" and "D" provide a timetable of key projectprocessing events and the status of Bank group operations in India. MapNo. 21690 shows the geographic location and phasing of the project. A partof the proposed project is located in the state of Jammu and Kashmir, whichis the subject of a territorial dispute between India and Pakistan.However, in making the proposed loan to India, the Bank does not intend toprejudice the final determination of the claims of the parties involved.Staff Appraisal Report No. 8172-IN, dated June 4, 1990, is beingdistributed separately.

12. Environment. The main environmental concerns related to the projectinclude: (a) the removal of trees for transmission lii,e rights-of-way; and(b) the possible degradation of areas near transmission lines andsubstations by uncontrolled construction activities. NHPC is routing thetransmission lines to avoid ecologically sensitive areas andhistorical/cultural features.

13. NHPC will have to clear about 780 hectares of forestland. Toreplace this land, NHPC will engage state forest departments in theplanting of compensatory forests. GOI's present policy requires theplanting of ten trees in degraded forestland for every tree removed. NHPCwill take precautions to prevent the displacement of populations or loss oflivelihood as a result of the land used for planting compensatory forests.The potential impact of construction activities will be controlled in twoways. First, the terms of reference for the consultants who will helpdesign the lines and substations in the affected areas specifically require

-4-

them to design the works in a way -%ich minimizes adverse environmentalimpacts. Second, the Bank will make sure that all pertinent biddingdocuments include clauses which require contractors to take the measuresneeded to protect the environment as well as the health and safety ofpersonnel employed on the proposed project.

14. Agreed a%ctions. During negotiations, the government agreed to:(a) send for the Bank's review, at least three months prior to the proposedtransfer, a detailed plan for the transfer of the transmission functions ofNHPC and the implementation and system control functions of NREB to NPTC;(b) issue the remaining forest clearances for transmission lines in phasestwo (1990-95), and three (1991-98) by June 30, 1992 and October 31, 1993respectively; and (c) send to the Bank, no later than December 31, 1991,terms of reference and a short-list of consultants to assist with thedesign, procurement, and installation of the load dispatch system, and signa contract with the selected consultants io later than July 31, 1992.During negotiations, NHPC agreed to: (a) reduce its outstanding receivablesfrom the present level of 11 months of billing to three months of billingby FY95 with annual targets for each of the intervening years; (b) take allmeasures necessary, including tariff adjustments, to earn a return on itsaverage net fixed assets of not less than 11.5Z; and (c) establishcommercial arrangements, satisfactory to the Bank, with the Nathpa JhakriPower Corporation (NJPC) no later than one year prior to commissioning theline which will evacuate power from Nathpa Jhakri.

15. Benefits. The transmission lines and substations included in theproposed project form a part of the least-cost expansion program fortransmission in the Northern Region. The internal rate of return for thetime-slice of the regional program corresponding to the implementationperiod for the proposed project is estimated at 15Z. In addition to thebenefits quantified in the rate of return calculation, the project providessystems to support tariff and commercial reforms which will yieldsignificant benefits by creating incentives for more intensive use ofavailable facilities. The project will introduce into India, for the firsttime, the use of 765 kV as a transmission voltage. The project also willprovide knowledge on the design of high voltage lines at high altitude.This knowledge will become increasingly important as India develops itshydroelectric resources in the Himalayas. Finally, the initiatives toimprove communication and project management in NHPC will directly reducethe final cost of the project and may indirectly benefit the entire sectorby creating a good example.

16. Risks. The project carries higher than usual risks in two areas.First, there are technical risks associated with using a highertransmission voltage (765 kV) than the one used at present, and with using400 kV lines at high altitud2c in icy conditions. Second, there is a riskof delay in completing the load dispatch component, as it is inherentlycomplex and involves coordination among all the utilities of the NorthernRegion. NHPC is hiring consultants to help with the design of the 765 kVfacilities and the 400 kV, high-altitude lines. The 765 kV voltage classand high-voltage, high-altitude lines have been in use for several years ina number of countries. NREB is hiring consultants to help supervise thedesign and installation of the load dispatch system. However, the successor failure of the system depends very much on the level of cooperation that

-5-

can be achieved among the generating agencies of the states and the centralgovernment. This cooperation is expected to be forthcoming, particularlysince the parties have jointly agreed on the principles outlined in theproject report.

17. Recommendation. I am satisfied that the proposed loan complies withthe Articles of Agreement of the Bank and I recommend that the ExecutiveDirectors approve it.

Barber B. ConablePresident

Attachments

Washington, D.C.June 4, 1990

Schedule A

INDIA

NORTHERN REGION TRANSMISSION PROJECT

Project Cost Summary

Local Foreign Total-- US$ Million--------

Estimated Costs a/

Preliminary and Civil Works 31.4 3.1 34.5Compensatory Afforestation 1.6 0.0 1.6Transmission Lines 159.3 248.6 407.9Substations 28.1 67.5 95.6Tools and Equipment 1.1 4.2 5.3Communications Equipment 1.4 4.1 5.5Load Dispatch Equipment 36.3 34.1 7C.4Training 0.6 1.7 2.3Consulting Services 0.0 4.5 4.5Engineering .!nd Administration 66.7 0.0 66.7

Total Base Costs 326.5 367.8 694.3

Physical Contingencies 24.4 38.1 62.5Pr:.ce Contingencies 43.3 140.2 183.5

Total Project Cost 394.2 546.1 940.3

Interest During Construction 54.2 185.3 239.5

Total Financing Required 448.4 731.4 1,179.8

a.' Including taxes and duties of about US$132.1 million equivalent.

Financing Plan

Source Local Foreign Total---- US$ Million--------

IBRD - 485.0 485.0Japanese Grant Facility 0.0 1.1 1.1NHPC 86.3 0.0 86.3GOI 362.1 245.3 607.4

Total 448.4 731.4 1,179.8

-7... Schedule BPage 1 of 2

INDIA

NORTHERN REGION TRANSMISSION PROJECT

Summary of Procurement ArrangementsU- s Million) it

Procurement MethodICB LCB Other Total

Preliminary and Civil Works 44.2 44.2(-) (-)

Compensatory Afforestation 1.9 1.9

Transmission Towers and Erection 241.0 21.6 262.6(119.6) (-! (119.6)

Transmission Line Materil-s 302.0 302.0(212.2) (212.2)

Substation Equipment 99.6 99.6(81.2) (81.2)

Substation Cables, Structures & Auxiliaries 19.5 19.5-) *(-)

Substa ion Erection 15.2 15.2(5.4) (5.4)

Corporation Communications Equipment 7.5 7.5(5.8) .5.8)

Load Dispatch Equipment and Software 75.1 25.7 100.8(50.0) (-) (50.0)

Tools and Equipment 7.2 7.2(5.6) (5.6)

Training and Consulting Services 6.8 6.8(5.2) (5.2)

Administration and Overheads 73.0 73.0(-) (-)

TOTAL 725.2 126.2 88.9 940.3(468.8) (5.4) (10.8) (485.0)

a/ Amounts include taxes and duties (US$132.1 million), and figures in bracketsindicate the Bank financed portion.

b/ Including consulting services, force account, administrative overheads and up toUS$7.2 million worth of tools and equipment to be procured by Limited InternationalRidding (LIB).

-8- Schedule BPage 2 of 2

Disbursemqnts

Category Amount Percentage Financing(US$)

(1) Civil Works andSubstation Erection 15,000,000 70?

(2) Equipment,materials anderection oftransmission lines 420,000,000 1002 of foreign expenditures

and 1002 of local expenditures(ex-factory cost)

(3) Consultants' Servicesand Training 5,000,000 100?

(4) Unallocated 45,000,000

485,00J.000

Estimated Disbursements

Bank Fiscal Year FY91 FY92 FY93 FY94 FY95 FY96 FY97 FY98

Annual 20.0 43.2 85.4 101.4 88.8 81.4 48.8 16.0

Cumulative 20.0 63.2 148.6 250.0 338.8 420.2 469.0 485.0

_g_ Schedule C

INDIA

NORTHERN REGION TRANSMISSION PROJECT

Timetable of Key Processing Events

(a) Time taken to prepare: Three years

(b) Prepared by: National HydroelectricPower Corporation

Northern Region ElectricityBoard

Central Electricity Authority

(c) First Bank mission: July, 1985

(d) Appraisal mission departure: April, 1989

(e) Negotiations: May, 1990

(*f) Planned Date of Effectiveness: September, 1990

(g) Last relevant PCR: No. 7652 - India: Third andFourth Power TransmissionProjects (Credits 377-IN and604-IN) - March 1989.

-10-

SCHEDULE D

PAGE 1 of 4_______________

THE STATUS Cc BANK GROUP OPERATIONS IN INDIA--------------------------------------------

A. STATEMENT OF BANK LOANS AND IDA CREDITS

(As of March 81, 1990)

US3 Million(net of cancellations)

Loan or Fiscal Year --------------------------------------Credit No. of Approval Purpose IBRD IDA 1/ Undisbursed 2/

72 Loans/ 4390.1 -150 Credits fully disbursed - 10837.2

:172-IN 1982 Korba Thermal Power II - 400.0 29.731177-IN 1982 Madhya Pradesh Major Irrigation - 220.0 71.731178-IN 1982 West Bengal Social Forestry - 29.0 8.002076-IN 1982 Ramagundam Thermal Power II 280.0 - 23.581280-IN 1988 Gujarat Water Supply - 72.0 38.881288-IN 1983 Jammu/Kashmir and

Haryana Social Forestry - 33.0 5.27 a/1319-IN 1983 Haryana Irrigation II 150.0 41.971332-IN 1983 U.P. Public Tubewelle II - 101.0 14.981368-IN 1983 Upper Indravati Hydro Power - 170.0 55.972278-IN 1983 Upper Indravati Hydro Power 168.4 - 156.011389-IN 1983 Calcutta Urban Development III - 147.0 91.822283-IN 1983 Central Power Transmission 250.7 - 173.092295-IN 1983 Himalayan Watershed Management 48.2 - 16.211383-IN 1983 Maharashtra Water Utilization - 32.0 6.552329-IN 1983 Madhya Pradesh Urban 18.1 - 7.271424-IN 1984 Rainfed Areas Watershed Dev. - 31.0 30.891428-IN 1984 Population III - 70.0 29.021432-IN 1984 Karnataka Social Forestry - 27.0 11.272387-IN 1984 Nhava Sheva Port 250.0 - 27.902393-IN 1984 Dudhichua Coal 109.0 - 29.072403-IN 1984 Cambay Basin Petroleum 213.5 - 75.982415-IN 1984 Madhya Pradesh Fertilizer 203.6 - 44.191464-IN 1984 Tamil Nadu Water Supply - 36.6 21.99SF-12-IN 1984 Tamil Nadu Water Supply - 36.5 43.541488-IN 1984 Periyar Vaigai II Irrigation - 17.5 0.44SF-1-IN 1984 Periyar Vaigal II Irrigation - 17.6 13.591483-IN 1984 Upper Ganga Irrigation - 126.0 108.751498-IN 1984 Gujarat Medium Irrigation - 172.0 110.842416-IN 1984 Indira Sarovar Hydroelectric 17.4 - 12.60SF-20-IN 1984 Indira Sarovar Hydroelectric - 13.8 16.161613-IN 1986 Indira Sarovar Hydroelectric - 13.2 18.032417-IN 1984 Railways Electrification 279.2 - 89.542442-IN 1984 Farakka II Thermal Power 300.8 - 203.522462-IN 1984 Fourth Trombay Thormal Power 135.4 - 18.491502-IN 1984 National Cooperative

Development Corporation III - 220.0 153.331514-IN ;98S Kerala Social Forestry - 31.8 20.701523-IN 1985 National Agric. Extension I - 39.1 38.831544-IN 1985 Bombay Urban Development - 138.0 120.79

__Fia_ dsuremns_engprcssda/ Final disbursements being processed.

-11- SCHEDULE D

PAGE 2 of 4

US$ Million(net of cancellations)

Loan or Fiscal Year ----------------------------------------Credit No. of Approval Purpose IBRD IDA 1/ Undisbursed 2/

2497-IN 1985 Namarda (Gujarat) Dam and Power 200.0 - 200.001562-IN 1985 Narmada (Gujarat) Dam and Power - 100.0 83.711663-IN 1986 Narmada (Gujarat) Canal - 160.0 162.091669-IN 1986 Second National Agricultural Ext. - 49.0 37.991611-IN 1985 National Social Forestry - 166.0 116.652498-IN 1985 Jharia Coking Coal 67.7 - 12.082606-IN 1986 Maharashtra Petrochemicals 300.0 - 20.832534-IN 1986 Second National Highways 200.0 - 151.872644-IN 1986 Chandrapur Thermal Power 300.0 - 173.942666-IN 1986 Rihand Power Transmission 260.0 - 84.902682-IN 1986 Kerala Power 176.0 - 152.801619-IN 1988 West Bengal Minor Irrigation * 99.0 120.711621-IN 1986 Maharashtra Composite Irrigation - 160.0 188.931822-IN 1986 Kerala Water Supply and Sanitation - 41.0 41.961623-IN 1986 West Bengal Population - 61.0 39.131631-IN 1986 National Agricultural Research II - 72.1 70.732629-IN 1986 Industrial Export Dev. Finance 90.0 - 48.712630-IN 1986 ICICI-Indus. Exp. Dev. Finance 160.0 - 79.111643-IN 1986 Gujarat Urban - 62.0 49.872663-IN 1986 NABARD I 376.0 - 6.802660-IN 1986 Cement Industry 165.0 - 94.222661-IN 1988 ICICI - Cement Industry 35.0 - 26.291666-IN 1986 Andhra Pradesh II Irrigation - 140.0 166.372862-IN 1986 Andhra Pradesh II Irrigation 131.0 - 131.002674-IN 1988 Combined Cycle Power 48S.0 - 141.082729-IN 1988 Cooperative Fertilizer 150.2 - 6.962730-IN 1988 Cooperative Fertilizer 146.0 - 55.551737-IN 1987 Bihar Tubewells - 68.0 86.842769-IN 1987 Bombay Water Supply &

Sewerage III 40.0 - 40.001760-IN 1987 Bombay Water Supply A

Sewerage III - 145.0 117.711764-IN 1987 National Agric. Extension III - 85.0 76.151767-IN 1987 Gujarat Rural Roads - 119.6 115.841770-IN 1987 National Water Management - 114.0 106.402785-IN 1987 Oil India Petroleum 140.0 - 93.182796-IN 1987 Coal Mining A Quality Improvement 340.0 - 138.092813-IN 1987 Telecommunications IX 193.0 - 42.662797-IN 1987 Uttar Pradesh Urban Development 20.0 - 20.001780-IN 1987 Uttar Pradesh Urban Development - 130.0 109.122827-IN 1987 Karnataka Power 330.0 - 308.332844-IN 1987 National Capital Power 486.0 - 364.082846-IN 1987 Talcher Thermal 375.0 - 344.822846-IN 1987 Madras Water Supply 53.0 - 53.001822-IN 1987 Madras Water Supply - 16.0 4.082893-IN 1988 National Dairy II 200.0 - 200.001859-IN 1988 National Dairy II - 160.0 98.002904-IN 1988 Western Gas Development 283.3 - 146.602928-IN 1988 Indus. Fin. A Tech. Asst. 360.0 - 238.622929-IN 1988 Housing Dev. Finance Corp. 260.0 - 99.602936-IN 1988 Railway Modernization III 890.0 - 318.332938-IN 1988 Karnataka Power II 260.0 - 239.102967-IN 1988 Uttar Pradesh Power 350.0 - 323.381923-IN 1988 Tamil Nadu Urban Dev. - 300.2 242.031931-IN 1988 Bombay A Madras Population - 67.0 20.432994-IN 1989 States Roads 170.0 - 170.001959-IN 1989 States Roads - 80.0 82.463024-IN 1989 Nathpa Jhakri Power 486.0 - 449.981962-IN 1989 National Seeds III - 150.0 136.503044-IN 1989 Petroleum Transport 340.0 - 340.002008-IN 1989 Vocational Training - 250.0 215.873046-IN 1989 Vocational Training 30.0 - 30.002010-IN 1989 Upper Krishna Irrigation II - 160.0 134.993060-IN 1989 Upper Krishna Irrigation II 165.0 - 166.003068-IN 1989 Export Development 120.0 - 110.003069-IN 1989 ICICI - Export Development 176.0 - 160.00

SCHEDULE D

PAGE 3 of 4

USS Million(net of cancellations)

Loan or Fiscal Year -----------------------------Credit No. of Approval Purpose IBRD IDA 1/ Undisbursed 2/

…_________ ----------- -------------------------------- --------- ---------

2022-IN 1989 National Sericulture - 147.0 129.698066-IN 1989 National Sericulture 30.0 - 30.003093-IN 1989 Electronics Industry Dev. 8.0 - 7.603094-IN 1989 ICICI - Electronics Ind. Dev. 101.0 - 91.003096-IN 1989 IDBI - Electronics Ind. Dev. 101.0 - 91.043096-IN 1989 Maharashtra Power 400.0 - 380.082067-IN 1989 Nat'l. Family Welfare Trng. - 113.3 106.783108-IN 1989 Nat'l. Family Welfare Trng. 11.3 - 11.303119-IN 1990 Industrial Technology Development. 145.00 - 146.002084-IN 1990 Industrial Technology Development* - 56.00 57.133144-IN 1990 Punjab Irrig-tion/Drainage 16.00 - 15.002076-IN 1990 Punjab Irrigation/Drainage - 150.00 144.16

Total 18134.9 16269.3 11525.5of which has been repaid 2402.3 556.8

Total now outstanding 13732.6 15713.7Amount Sold 133.8of which has been repaid 133.8

Total now held by Bank and IDA 3/ 13732.6 16713.7

Total undisbursed (excluding .) 7426.9 4099.7

i/ IDA Credit amounts for SDR-denominated Credits are expressed in terms of their US dollarequivalents, as established at the time of Credit negotiations and as subsequentlypresented to the Board.

2/ Undisbursed amounts for SDR-denominated IDA Credits a.'e derived from cumulative disbursembentsconverted to their US dollar equivalents at the SDR/US dollar exchange rate ineffect on March 31, 1990, while original principal is based on the exchange rate ineffect at negotiations. This accounts for the fact that in some cases the undisbursedbalance as shown in USS equivalent is higher than the original principal.

3/ Prior to exchange adjustment.

. Not yet effective.

-13-SCHEDULE D

PAGE 4 OF 4

B. STATEMENT OF IFC INVESTMENTS---------------------------------

(As of March 81, 1990)

Amount (USS million)

Fiscal Year Company Loan Equity Total

1969 Republic Forge Company Ltd. 1.6 - 1.51969 Kirloska Oil Engines Ltd. 0.8 - 0.81980 Assam Sillimanite Ltd. 1.4 - 1.41961 K.S.B. Pumps Ltd. 0.2 - 0.21963-68 Precision Bearings India Ltd. 0.6 0.4 1.01964 Fort Closter Industries Ltd. 0.8 0.4 1.21964-76-79/90 Mahindra Ugine Steel Co. Ltd. 11.8 2.7 14.61964 Lakshmi Machine Works Ltd. 1.0 0.3 1.31967 Jayshree Chemicals Ltd. 1.1 0.1 1.21967 Indian Explosives Ltd. 8.6 2.9 11.51969-70 Zuari Agro-Chemicals Ltd. 16.2 3.8 19.01976-87 Escorts Limited 16.8 - 15.61978 Housing Development Finance Corp. 4.0 1.8 5.61980/82/87/89 Deepak Fertilizer and

Petrochemicals Corporation Ltd. 7.6 4.2 11.71981 Coromandel Fertilizers Limited 16.9 - 15.91981-86-89 Tata Iron and Steel Company Ltd. 72.0 21.4 93.41981/90 Mahindra, Mahindra Limited 15.0 6.4 21.41981 Nagarjuna Coated Tubes Ltd. 1.5 0.3 1.81981-86/87 Nagarjuna Signode Limited 2.3 0.3 2.61981 Nagarjuna Steels Limited 3.6 0.2 3.71982 Ashok Leyland Limited 28.0 - 28.01982 The ,or,bay Dyeing and

Manufacturing Co. Ltd. 18.8 - 18.81982 Bharat Forge Company Ltd. 15.9 - 15.91982 The Indian Rayon Corp. Ltd. 14.6 - 14.61984-86 The Gwalior Rayon Silk Manu-

facturing (Weaving) Co. Ltd. 16.0 - 16.01985 Bihar Sponge 16.2 0.6 16.81986 Bajaj Auto Ltd. 23.9 - 23.91986 Modi Cement 13.0 - 13.01986 India Lease Development Ltd. 5.0 0.3 5.31986 Larsen and Toubro Ltd. 21.8 - 21.81986 India Equipment Leasing Ltd. 2.6 0.3 2.81986 Bajaj Tempo Limited 30.6 - 30.61986 The Great Eastern Shipping

Company Ltd. 8.0 6.9 11.91987 Gujarat Narmada Valley Fertilizer 37.6 - 37.61987 Hero Honda Motors Ltd. 7.7 - 7.71987 Wimco Limited 4.7 - 4.71987-89-90 Titan Watches Limited 21.7 0.6 22.31987 Export-Import Bank of India 15.0 - 15.01987 Gujarat Fusion Glass Ltd. 7.6 1.7 9.21987 The Gujarat Rural Housing

Finance Corp. - 0.2 0.21987 Hindustan Motors Ltd. 37.0 - 37.01988 Invel - 1.1 1.11989 WBI 0.2 0.21989 Kelt.on - 0.4 0.41989 Gujarat State Fertilizer 28.9 - 28.91989 Ahmedabad 20.6 - 20.51990 Tata Electric 39.5 - 39.51990 J.M. Shar - 0.4 0.41990 M a M 10.0 - 10.01990 UCAL - 0.6 0.6

TOTAL GROSS COMMITMENTS 821.6 57.3 678.8

Less: Cancellation, Terminations,Repayments and Sales 330.3 20.8 351.1

Now Held 291.2 36.5 327.7

Undisbursed 169.2 0.8 160.0

72~ ( 72- 4x App,oimote Line of Contro'B . . Bursa,r PROJECT PHASES

/ .Z .D .5 t . ,l.UW. b) \ , ~~Uri }/' ?Ki,hunp.,/ -34Ur, PS khlnaga JAMMU *-7

,|,<.,.erw> S, \5- Dul g ,1) M\AND PA4 STN \ 7' HIMACHAL -

,.I-.hlSl.UI. . wx //D AND 347- PAKISTAN PRADESHKASHMIR

Sawolkot .7 Sr i eor .' KUNjKit

- %1 3 e r c 11 s_</\ ' Moscfi hPUNJAB 7..henpur CCIc iI >: C/NDIGBTA

Chmerol

-32- HIMACHAL RYANA R

PRADESH 320 Ho,'r

P A K I S T A N \Dehar N. Jhaku RAJASTIIAN i \ EL

Jun rier Kla -

I~ ~~~~ d t'S

Mogo P NAB ~ ) ¶PHASE I PHASE I1 PHASE III SINGLE CIRCUIT LINTS: -

3D0.ol ull,Iopur - OT kS DOUBLE CIRCUIT LINES

- -. J R~~~~~~~~~~~~~~~~fishikesh 2s0 kV INTERCONNECTING LINES

O, 50 10 1SUBSTATIONSV' I L) UDELECTRIC POWER PLANTf

To M Kotla oK 70 Panipot from _ \ \ H Panip t

RAJASTHAN NEPALr KANPU

.orh ) UTTA PRADESH \

S S LTD 1IF 2D,KILOMETERSr

7I N I

NATIONAL CAPITAL REGION NOET. M. KoBSo VI T. P.nip.t Fpor

To Abd.1(oplo

BASISO SYSTE TO 200 BeowMADHYABo"n~~~~~~~~

To shi-PR, U PRADESH

Bomnoli DAR um dngar'5

MADHYA -(

Bollobgarh PRADESH 6

I4N1DIA NV E

NORTHERN REGION TRANSMISSION PROJECTTRANSMISSION SYSTEM TO 2005 A.D.

UNDEKR COBN-

FUTURE 1PECa STRUCTION EXISTING

-65 kV LINES

- 40D kOV LINES

-1*-- ~~HIBC LINEo 0 SUBSTATIONSLI I HYDROELBC1TC POWER PLANTS

___THERMAL POWER PLANTS

STATR BOUNDARIES

-INTERNATIONAL BOUNDARIBS