The Board of “NLC Tamil Nadu Power Limited” (NTPL) a Joint Venture Company of NLC has accorded approval for borrowing Rs. 1184.92 crores from M/s Power Finance Corporation. This fund is to meet out the capital expenditure for the 1000 MW (2 x 500 MW) Thoothukudi Power Project. Unit I of 500 MW has already been declared for Commercial Operation on 6.6.2015 and another Unit II of 500MW is expected to commission soon. This will reduce the interest cost to the company considerably.
For this purpose, officials representing M/s. Power Finance Corporation visited Neyveli on 16.6.2015 and an agreement for funding of Rs. 1184.92 crores to NTPL Project was signed by Director, NTPL in which General Manger (Finance) New Projects and Chief Financial Officer, NTPL were present.
