Latest News | PFC, REC to Provide Rs 8,520 Cr Loan to SJVN's Power Project in Bihar

New Delhi, Nov 26 (PTI) State-owned PFC and REC have signed an initial pact with SJVN to provide Rs 8,520 crore worth loan for a thermal power plant in Buxar, Bihar.

"PFC along with REC Ltd executed a Memorandum of Understanding with SJVN Thermal (P) Ltd (STPL) for extending term loan of Rs 8,520.46 crore for 2x660 MW Buxar Thermal Power Project on 26th November 2020," a PFC statement said.

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STPL is a wholly-owned subsidiary of SJVN and executing the project. The Buxar thermal power project is expected to be commissioned in 2023-24 and generate approximately 9,828 Million Units of energy to meet the future power requirement of Bihar and other states.

PFC has a long standing relationship with SJVN and funding of this upcoming thermal project will further strengthen the relationship between these two entities, it added.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)