REC, PVUNL sign ₹14,000-cr loan agreement

Our Bureau New Delhi | Updated on January 09, 2018 Published on November 15, 2017

Rural Electrification Corporation and Patratu Vidyut Utpadan Nigam Ltd (PVUNL) have signed a loan agreement for establishing the 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand.

An REC statement said the project cost of ₹ 18,668 crore is funded in the debt: equity ratio of 75:25 and ₹14,000 crore (entire debt component of project) has been sanctioned by REC as sole lender to the project.

PVUNL is a subsidiary of NTPC holding 74 per cent stake in the company and 26 per cent stake is held by Jharkhand Bijli Vitran Nigam Ltd (JBVNL), the discom utility of Jharkhand state.

Published on November 15, 2017
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