BANGALORE: The state-owned Krishna Bhagya Jala Nigam Ltd (KBJNL) has created an irrigation potential of 6.09 lakh hectares (ha) as against the originally estimated potential of over 6.22 lakh ha by March 2011.The Nigam was set up to develop irrigation projects in the Krishna river basin and utilise 173 tmc of water allocated to the Upper Krishna Projects (UKP) by the Krishna Water Tribunal.According to sources, the KBJNL, which had raised the capital for the execution, operation and maintenance of the UKP works, has almost achieved its target; the agency is all geared up to execute the second phase of the UKP.The agency which had mobilised Rs 7932.23 crore through the issue of public bonds and loans from domestic and international banks since 1995, has till date repaid over Rs 7,600 crore. The KBJNL was able to repay the huge debt with budgetary support from the state government.This year, the KBJNL received a royalty of `5.25 crore from the Karnataka Power Corporation which has erected a hydel power plant at the Alamatti Reservoir - at 10 paise for every generated at the plant. The total estimated cost of the UKP and related projects currently handled by the company stood at Rs 12,877 crore, by the end of March 2011. The KBJNL, in the current fiscal, had spent over Rs 899.73 crore, including a debt servicing component of Rs 133.77 crore.The company had received over Rs 1,077.81 crore both for project expenditure and debt servicing in the current year from the state government, in addition to central grant of Rs 250 crore under its Accelerated Irrigation Benefit Project (AIBP) Fund.KBJNL is gearing up to utilise the over 130 tmc of water allocated to it by the second tribunal constituted to settle the Krishna water dispute. Sources add that the next phase of the UKP works are estimated to be over Rs 33,000 crore for which the state has already given administrative approval.
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