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REC inks pact to provide loan for TANGEDCO power plant

Press Trust of India  |  New Delhi 

State-run Rural Electrification Crop (REC) today said it has inked a pact with Tamil Nadu's power utiltiy to provide a loan of Rs 10,453 crore for setting up 1,320 MW Stage-I power project.

"The REC signed a loan agreement of Rs 10,453 crore with for setting up of TANGEDCO's Stage-I, 2x660 based Supercritical Thermal Power Project in Tuticorin District of Tamil Nadu," an REC statement said.

The loan assistance from the REC will not only improve the of the but will also improve their financial and operational performance.

The loan agreement was signed in the presence of Electricity, of Tamil Nadu, P Thangamani and REC chairman and managing

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 12 2018. 21:00 IST
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