Latest NUPPL News
Jan 2, 2018
TNN | Updated: Jan 2, 2018, 00:27 IST Cuddalore: Neyveli Uttar Pradesh Power Limited (NUPPL) has secured a loan of Rs 11,067 crore from a consortium led by Power finance corporation limited, State Bank of India and Rural electrification corporation limited for its Ghatampur thermal power station of 1,980MW (three 660MW units) in Uttar Pradesh. NUPPL is a joint venture of NLC India Limited and the Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). A loan agreement in this regard was signed by the secretary (ministry of coal) Susheel Kumar, NLCIL chairman and managing director S K Acharya, Power finance corporation of India chairman and managing director Rajeev Sharma and others at Puducherry on Sunday. NUPPL had earlier secured a loan of Rs 1,000 crore from the Bank of India. The sanctioned project cost of the Ghatampur thermal power station is Rs 17,237.8 crore and company had proposed to raise 70% of the project cost through loans. The company conducted the tendering process in a fair and transparent manner inviting competitive rate of interest resulting in a saving of more than Rs 700 crore in the project cost. The project activities for the Ghatampur power plant are progressing in full swing by all the major contractors. The company has so far incurred an expense of Rs 1,192.29 crore.