Patna, (Bihar Times): A Memorandum of Understanding was signed between the Bihar State Electricty Board and the Power Grid Corporation of India Limited on Wednesday. The MoU will strengthen the power transaction and distribution system in Bihar by 2012 and will cost Rs 1240.86 crore.

The agreement was signed by PGCIL Chairman-cum-Managing Director (CMD) R P Singh, state Energy Secretary Rajesh Gupta, BSEB Chairman Swapan Mukherjee and Union Ministry of Power Director Lokesh Chandra. The chief minister Nitish Kumar, state Energy Minister Vijendra Yadav, state Chief Secretary Ashok Chaudahry etc were also present on the occasion.

The chief minister later said that following the completion of the third and final phase of the work in the next five years, the overall power scenario in the state would undergo a sea change. It will also give a big boost to the rural electrification. It is major milestone in the ongoing industrialization programme of the state government.

A similar agreement was signed with the NTPC last month and the total generation of power in Bihar would experience a quantum jump from the present 1,500 MW to over 4,000 MW within the next three to four years.

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