IRFC extends ₹12,640 crore rupee term loan to CSPGCL for Korba west super critical plan

State-owned Indian Railway Finance Corporation Ltd (IRFC) on Friday (September 26) announced that it has sanctioned a Rupee Term Loan (RTL) of ₹12,640 crore to Chhattisgarh State Power Generation Company Limited (CSPGCL).

CSPGCL is a wholly owned entity of the Government of Chhattisgarh. The sanctioned amount will be utilised to finance CSPGCL’s upcoming 2x660 megawatt (MW) Super Critical Thermal Power Project at HTPS, Korba West.

The sanctioned funding will provide CSPGCL with long-term, low-cost resources for project implementation, ensuring financial stability and timely execution of this critical project, ultimately benefiting the public at large.

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Chairman and Managing Director of IRFC said, "IRFC remains steadfast in its mission to serve as the one-stop financier for projects that strengthen the railway ecosystem.

Our support to CSPGCL exemplifies our commitment to providing competitive funding for projects that are vital to both regional growth and railway-linked infrastructure. With railways at the centre of our mandate, we will continue to back projects that enhance efficiency, sustainability, and energy security for the nation."

CSPGCL, incorporated in 2003, is the state-owned generation utility of Chhattisgarh with an installed capacity of over 2,600 MW. It plays a pivotal role in meeting the state’s electricity demand and supplying power to neighbouring regions and Indian Railways.

Shares of Indian Railway Finance Corp Ltd ended at ₹121.90, down by ₹2.20, or 1.77%, on the BSE.

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