REC signs Rs 6,362 crore loan pact with DVC; to boost Bengal's thermal plant

A PROMINENT power sector PSE, Rural Electrification Corporation (REC) has signed a loan pact with  thermal and hydro power generating public organization Damodar Valley Corporation (DVC), for funding of the first 2X660 MW Supercritical Thermal Power Unit at Raghunathpur in West Bengal’s Purulia district. The agreement was signed in...
Kolkata recently in the presence of REC chairman and managing director Rajeev Sharma and chairman of DVC RN Sen and other senior officials from both the organizations, a power ministry statement said. The loan amount of Rs 6,362 crore is to be funded entirely by REC.
These units will be a part of Raghunathpur Phase –II expansion programme of DVC. Entrusted with the responsibilities of providing the vital input power for industrial growth in Damodar Valley region, DVC has been using the latest technology to supply bulk power at reasonable rate to the major industries. REC provides financial assistance and promotes rural electrification projects throughout the country. It funds state electricity boards, state government departments and rural electric cooperatives for rural electrification projects.