The NLC has availed itself of a loan of Rs. 1184.92 crore from Power Finance Corporation to meet the capital expenditure for the 1000 MW (two 500 MW units) coal-fired Thoothikudi power project.
The loan proposal for the project was accorded approval by the Board of the NLC Tamil Nadu Power Limited, a joint venture company of the NLC (89 per cent) and Tangedco (11 per cent).
Rs. 6,500 crore
The estimated cost of the Thoothukudi project is about Rs. 6,500 crore.
The loan agreement was signed on Tuesday by representatives of NTPL and the Power Finance Corporation.
Earlier, this month, Unit I was opened for commercial operation after a dry run that involved 72 hours of continuous operation. The second unit is expected to be commissioned shortly.
