Rs 1184.92 crore for Thoothukudi Power Project
In a major development, NTPL (NLC Tamil Nadu Power Limited), a JV with NLC will borrow Rs 1184.92 crore from Power Finance Corporation to meet out the capital expenditure for the 1000 MW (2 x 500 MW) Thoothukudi Power Project, officials said on Wednesday.
“Unit I of 500 MW has already been declared for Commercial Operation on June 6 and another Unit II of 500MW is expected to commission soon. This will reduce the interest cost to the company considerably,” an official said.
Officials of PFC visited Neyveli on Tuesday 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.