Excelsior Correspondent
JAMMU, June 14: A loan agreement of Rs 1869.265 crore was today signed between Chenab Valley Power Project Private Limited (CVPPPL) and PFC Limited here today.
The agreement was signed by CVPPPL in the presence of NHPC Ltd (51%) and JKSPDC (49%) with PFC Limited, a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power.
With this agreement, the Financial Closure for Kiru HEP for Rs. 3738.53 crore has been achieved.
As per the Agreement, the Loan will be utilized for Development and Construction of green field Kiru Hydro Electric Project (4×156 MW) on River Chenab located in Kishtwar District of Jammu & Kashmir.
The formal signing of the agreement took place in the presence of Ramesh Mukhiya, Managing Director, Vasant Hurmade, GM (C&P), Sanjay Kumar Gupta, GM (Finance), from CVPPPL and Nitin Kumar, GM & HOU (CSP), Avinash Chand, Vishu Chaudhary from PFC Ltd. and Ranjan Kumar Giri, AVP from IDBI Capital Markets & Securities Limited, among other key officials of respective organizations.
This collaboration marks a significant step towards sustainable energy development in the region.
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