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Our Correspondent

Gangtok, Sept. 21 National Hydroelectric Power Corporation Limited (NHPC) has signed three Memoranda of Agreement with Power Finance Corporation Limited (PFC) for credit aggregating to Rs 3,000 crore to fund its various hydroelectric projects scheduled to be implemented during 11th five year plan. According to a press release issued by NHPC here, funds will be utilised for 800 MW Parbati Hydroelectric Project stage-II in Himachal Pradesh, 132 MW Teesta low dam hydroelectric project stage-III in West Bengal and 120 MW Sewa hydroelectric projects in Jammu & Kashmir. The sanctioned amount is available for withdrawal up to six months after commissioning of these projects and is repayable over a period of next ten years.The agreement was signed by Mr R.K. Taneja, Executive Director (Finance) on behalf of NHPC and Mr R.K. Mittal, AGM (Legal), on behalf of PFC in the presence of Mr S.K. Garg, CMD, NHPC, and Mr V.K. Garg, CMD, PFC, in the presence of other senior officers from NHPC and PFC on September 17 in New Delhi.

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