New Delhi: Indian Railway Finance Corporation (IRFC), the dedicated financing arm of the Ministry of Railways, has extended loan assistance of Rs 3,388.51 crore to Patratu Vidyut Utpadan Nigam Limited (PVUNL), a subsidiary of NTPC Limited, for the development of the Banhardih Coal Block in Latehar district, Jharkhand.
The loan agreement was signed at PVUNL’s Patratu office by Shwet Ketu Mishra, Chief General Manager, IRFC, and Ashok Kumar Sehgal, Chief Executive Officer, PVUNL.
PVUNL, a joint venture between NTPC Limited (74 percent) and Jharkhand Bijli Vitran Nigam Limited (26 percent), is setting up a 4,000 MW coal-based thermal power project at Patratu in two phases. The captive Banhardih coal block, with estimated reserves of about 956 million tonnes, has been allocated for this project. Coal will be transported through the Indian Railways network, reinforcing strong forward and backward linkages with the railway sector.
IRFC, which was recently accorded Navratna status, continues to diversify its role as an infrastructure financier beyond railways, with a portfolio covering power, mining, logistics, ports, metro rail, and related sectors. The corporation maintains a robust financial profile with a zero-NPA track record.
Commenting on the development, IRFC’s Chairman & Managing Director said (CMD), “This loan marks IRFC’s continued commitment to support projects of national importance. Our long-term financing will ensure timely development of the Banhardih Coal Block, secure fuel supply for PVUNL’s power project, and strengthen rail-linked infrastructure critical to India’s growth plans.”
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)