PFC to give Rs.15,000 crore loan for Telangana power projects


Posted on 17th Mar 2015 11:09 am by mohit kumar

Hyderabad, March 15 (IANS) The Power Finance Corporation (PFC) has come forward to extend Rs.15,000 crore loan for thermal power projects coming up in Telangana.

A memorandum of understanding (MoU) to this effect was signed on Sunday by the officials of PFC and Telangana State Generation Corporation (TS Genco) in the presence of Chief Minister K. Chandrasekhar Rao here.

These funds will be spent for 1,080 megawatt (MW) Bhadradi plant coming up in Manuguru in Khammam district and 4,400 MW plant at Damaracherla in Nalgonda district.

On a request by the chief minister, the PFC agreed to bring down the rate of interest on this loan from 12 percent to 11.5 percent. This will save Rs.300 crore for TS Genco, said a statement from the chief minister's office.

The MoU was signed by PFC chairman and managing director M. K. Goel and TS Genco chaiman and managing director D. Prabhakar Rao.

Meanwhile, Union Environment Minister Prakash Javadekar told reporters here on Sunday that the TS Genco's 4,400 MW project at Damaracherla will be cleared on March 17. He said the forest appraisal committee would give the clearance at its meeting in the national capital.

The minister said the ministry has allowed diversion of 4,000 hectares of degraded forest land for the project. The state government, in exchange for the forest land, has allotted 4,000 hectares of green land at another place, which will be developed as a green forest.

Javadekar said the process for clearance of the project was completed in a record time of one month since Telangana chief minister met him in Delhi.

Stating that the environment ministry has cleared 10 projects for Telangana including four projects of Singareni Collieries Company Limited (SCCL) which were pending for last four years, he said the central government was committed to speedy development of both the states of Telangana and Andhra Pradesh.

0 Like 0 Dislike
Previous news Next news
Other news

LPG Price: Relief news on the first day of June, 19 kg commercial gas cylinder is cheaper by Rs 135, know the latest rate

Some big changes are seen on the first day of every month, which directly affects the pockets of

Corona Update: Corona cases continue to decline, death toll also decreased, 16,051 cases were reported in 24 hours

Corona infection is now decreasing across the country and the number of people recovering from it

NCB's 5-member team starts investigation against Sameer Wankhede, statements of witnesses will be recorded

An investigation has begun into the serious allegations leveled against Sameer Wankhede, Zonal Of

IMF estimates: India's growth rate will be double that of China despite the slowdown, lowering the global growth rate estimate

After the World Bank, the International Monetary Fund (IMF) has also reduced India's growth forec

Australian PM will come on a three-day tour of India on Holi, said- friendship will increase in both countries, told priority

Australia PM India Visit Australian Prime Minister Anthony Albanese will be on a tour of India fr

Gujarat: PM Modi inaugurates Defense Expo, said - picture of our resolve for Amritkal

Prime Minister Narendra Modi inaugurated the Defense Expo 2022 in Gandhinagar, Gujarat on Wednesd

Farmer Protest: Will the tractor parade get a green signal today? Meeting started between police and farmer leaders

Protests by farmers on Delhi's borders over the new agricultural laws continue for the 59th day o

Salman's reply on 1000 crore fee: Bigg Boss host said - If I get so much money, then I will never work in life

Salman rubbished reports of getting a Rs 1000 crore fee for Bigg Boss 16. This season will start

Omicron's new variant BA-2 found in India: Confirmed in 16 patients including 4 children in Indore, 530 samples were sent from across the country for testing

The threat of another variant of the virus is looming amidst the Omicron version of Corona wreaki

Food Crisis: ...then the world will be in the grip of the severe food crisis, millions of people can reach the brink of hunger

With the passing of the day, the danger of food crisis in the world is also increasing. Ukraine h

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash