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KOLKATA, July 24

THE West Bengal Power Development Corporation Ltd has decided to approach the Power Finance Corporation for loan for its proposed 2000 MW Sagaridghi thermal power project in Murshidabad district.

This follows the lack of progress with the Asian Development Bank, which the WBPDCL had earlier approached. "Although there were some positive signs earlier, now it seems that the multilateral institution is not keen to have expsoure in greenfield power projects, but just for extension and R&M projects,'' a senior WBPDCL official said.

Sources said that had the ADB-assistance come through, Sagardighi would have been the first such project in the State, which has seen substantial amount of JBIC funding for its power sector.

As for the second stage of the Sagardighi project under which two 500 MW units are proposed to be set up, sources said that efforts are on to set these up as gas-based units for which WBPDCL has held talks with at least one US based oil major and also an Indian PSU oil company.

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