Public sector financer Rural Electrification Corporation (REC) has given a loan of Rs. 8,775 crore ($1.6 billion) to NTPC and Bihar State Electricity Board..REC has extended loan to Nabinagar Super Thermal Power Project, a Joint Venture company of NTPC and Bihar State Electricity Board for setting up 1980 (3x 660) MW coal based super thermal power project..The total project cost is Rs.12,536 crore and this is the largest loan facility extended by REC on standalone basis..Fox Mandal advised REC with a team led by Partner Dr. Rajesh Sehgal along with Senior Associate Rahul Tyagi and Associate Bhupendra Verma..NTPC was advised by its in-house team..Fox Mandal Partner Rajesh Sehgal in a statement said “The project has very significant importance for the State in terms of generating 1980 MW, much required power”..The power project will be situated in Aurangabad district of Bihar. The loan has door-to-door tenure of 20 years having disbursement period of five years and is to be repaid in 15 years thereafter, reports BusinessStandard.
Public sector financer Rural Electrification Corporation (REC) has given a loan of Rs. 8,775 crore ($1.6 billion) to NTPC and Bihar State Electricity Board..REC has extended loan to Nabinagar Super Thermal Power Project, a Joint Venture company of NTPC and Bihar State Electricity Board for setting up 1980 (3x 660) MW coal based super thermal power project..The total project cost is Rs.12,536 crore and this is the largest loan facility extended by REC on standalone basis..Fox Mandal advised REC with a team led by Partner Dr. Rajesh Sehgal along with Senior Associate Rahul Tyagi and Associate Bhupendra Verma..NTPC was advised by its in-house team..Fox Mandal Partner Rajesh Sehgal in a statement said “The project has very significant importance for the State in terms of generating 1980 MW, much required power”..The power project will be situated in Aurangabad district of Bihar. The loan has door-to-door tenure of 20 years having disbursement period of five years and is to be repaid in 15 years thereafter, reports BusinessStandard.