Business EconomyPosted at: Apr 24 2024 6:38PM


REC to provide loan of Rs 1869 cr to Chenab Valley Power Project in J&K

New Delhi, April 24 (UNI) State-owned non-banking finance company REC Limited has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which it will provide financial assistance of Rs 1,869.265 crore as a term loan.
The loan will be utilized for the development, construction, and operation of the 4 x 156 MW Kiru Hydroelectric Project on the River Chenab in the Kishtwar district of Jammu and Kashmir, an official statement from the Ministry of Power said.
The 624 MW Kiru Hydro Electric Project is a run-of-river scheme that envisages the construction of a dam of 135 meters and an underground power house with 4 units of 156 MW each.
CVPPPL is a joint venture company between NHPC (51%), JKSPDC (49%), a joint initiative of the Government of India and the Government of J&K, formed to harness the vast hydropotential of the Chenab River.
The company was incorporated in 2011. CVPPPL has been entrusted with the construction of the Kiru Hydro Electric Project (624 MW), Pakal Dul Hydro Electric Project (1000 MW), Kwar Hydro Electric Project (540 MW), and Kirthai-II Hydro Electric Project (930 MW) on a build, own, operate, and maintain (BOOM) basis, with an aggregate installed capacity of 3094 MW.
UNI SKB GNK
Please log in to get detailed story.
Tags: #REC to provide loan of Rs 1869 cr to Chenab Valley Power Project in J&K
More News
Sensex up over 500 pts

Sensex up over 500 pts

23 Apr 2025 | 10:28 AM

Mumbai, Apr 23 (UNI) The BSE Sensex continued to climb on Wednesday too, advancing 509 pts at 80,104.00 in opening session as buying was seen across the board despite mixed trend in global market.

see more..
AP: Nepal delegation visits Visakhapatnam Port Authority

AP: Nepal delegation visits Visakhapatnam Port Authority

22 Apr 2025 | 9:33 PM

Visakhapatnam, Apr 22 (UNI) A five-member Nepal delegation led by Dr. Govind Prasad Sharma, Secretary, Ministry of Agriculture & Livestock Department, Government of Nepal, along with the Managing Director of Krishi Samagri Company Ltd., Nepal, and the Assistant CEO of Salt Trading Corporation Ltd., Nepal, visited Visakhapatnam Port Authority (VPA) on Tuesday.

see more..

Rs 32 50 lakh project for interior furnishing of Kochi cruise terminal gets nod

22 Apr 2025 | 7:43 PM

Thiruvananthapuram, Apr 22 (UNI) The Kerala Tourism Department has accorded Administrative Sanction for a Rs 32.50 lakh project for interior furnishing of the proposed passenger lounge at the International Cruise Terminal in Kochi.

see more..

Naveen Jindal welcomes 12 pc Safeguard Duty on steel lmport

22 Apr 2025 | 7:34 PM

Kaithal, Apr 22 (UNI) Naveen Jindal, President of the Indian Steel Association and Chairman of Jindal Steel and Power, has welcomed the decisive move to shield its domestic steel industry from a surge of low-priced imports.

see more..

Corporate funding in global solar sector declines YoY, but Indian scenario promising: Mercom

22 Apr 2025 | 7:02 PM

Kolkata, Apr 22 (UNI) Total corporate funding in the global solar sector reached $ 4.8 billion across 39 deals in Q1 2025 — a 41 per cent decline year-over-year (YoY) compared to $ 8.2 billion raised through 42 deals in Q1 2024.

see more..