£380,000 LOAN WANTED BY POWER BOARD
The South Canterbury Electric Power Board at its next meeting will conside'r a motion to apply to the Local Government Loans Board for sanction to borrow £380,000.
In a report to d meeting of the board on Tuesday the manager (Mr J. M. Bishop) said in the next 12 years the board would have to reconstruct its existing lines, which would take five or six years’ work, and to extend its lines to supply all those settlers not yet reticulated, which would take another five or six years. To complete urgent reconstruction, about £30,000 in capital money was required, said Mr Bishop, and further reticulation was estimated to cost £350,000.
The new reticulation proposals involve the supply of 1127 new consumers and the erection of 530 miles of line at an estimated capital cost of £6OO a mile. Adjustments to lines and feeders necessitated by this work are expected to cost £30,000.
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Press, Volume LXXXIV, Issue 25547, 15 July 1948, Page 2
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158£380,000 LOAN WANTED BY POWER BOARD Press, Volume LXXXIV, Issue 25547, 15 July 1948, Page 2
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