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PFC to lend Rs2,704 crore to Bengal’s Power Development Corp

LiveMint logoLiveMint 07-03-2017 Gireesh Chandra Prasad

New Delhi: State-owned lender Power Finance Corp. (PFC) on Tuesday said it will lend Rs2,704 crore to West Bengal Power Development Corp. for building a 660 megawatt (MW) super critical power plant.

A statement from PFC said the proposed plant will be a part of the Sagardighi thermal power station at Murshidabad in West Bengal and is expected to be completed by October 2020. The proposed unit is estimated to cost Rs3,863 crore.

“It will generate approximately 4,209 million units of energy to meet the future power requirement of West Bengal. The project is proposed to be funded in the debt equity ratio of 70:30 and the entire debt is proposed to be funded by PFC,” said the power sector lender.

The loan deal was signed on 6 March. PFC has in the past sanctioned loans of Rs8,290 crore to various projects of West Bengal Power Development Corp., the PFC statement said.

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