Power Finance Corp approves Rs 2,248 cr loan to BRBCL

State-owned Power Finance Corp today said it has sanctioned a loan of Rs 2,248 crore to Bhartiya Rail Bjilee Company for establishment of 1,000 MW Nabinagar Thermal Power Project at Aurangabad in Bihar.

Power Finance Corp (PFC) and Bhartiya Rail Bjilee Company Ltd (BRBCL), a joint venture of NTPC Ltd and Indian Railways, signed a loan agreement of Rs 2,248 crore, a company statement said.

The loan is for establishing 1,000 MW Nabinagar Thermal Power Project, in Aurangabad District of Bihar.

Total estimated project cost was worked out to Rs 5,332.50 crore and PFC’s sanction was 42 per cent of the estimated project cost, it said.