REC sanctions Rs.16,070 crore to Telangana Power Plant

Sarkaritel
By Sarkaritel August 11, 2015 23:22

REC sanctions Rs.16,070 crore to Telangana Power Plant


12rec_project

Hyderabad August 12 REC, a Navratna PSU sanctioned Rs.16,070 crore loan to Telangana for construction of 4000 MW (5X800 MW) Yadadri Thermal Power Plant. Rajeev Sharma, CMD, REC on 11th August, 2015 handed over the sanction letter to K. Chandrashekar Rao, Honourable Chief Minister of Telangana. The credit support is given to TSGENCO for setting up an Ultra Mega Power Project of capacity with 5 x 800 MW at Yadadri. MD of TSGENCO and other senior officials from State Government and REC were also present at the occasion.  The sanction of Rs.16,070 crores is highest ever extended by REC to a single borrowing utility.

Earlier, REC, a Navratna PSU, had signed a MoU with TSGENCO in February, 2015 for providing the financial assistance to the extent of Rs. 20,000 Crore. This was to facilitate Telngana’s ambitious program of developing Thermal Power projects during 12th plan for capacity addition of about 4000 MW. REC will continue to play a leading role among the development partners active in Telangana’s power sector development.

Sarkaritel
By Sarkaritel August 11, 2015 23:22

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