IRFC Extends INR 3,388.51 Crore Funding Support to PVUNL for Banhardih Coal Block Development

Indian Railway Finance Corporation (IRFC) has extended loan assistance of INR 3,388.51 crore to Patratu Vidyut Utpadan Nigam Limited (PVUNL) for the development of the Banhardih Coal Block in Latehar district, Jharkhand. The loan agreement was signed by Shri Shwet Ketu Mishra, Chief General Manager, IRFC and Shri Ashok Kumar Sehgal, Chief Executive Officer, PVUNL. IRFC, established in 1986, has played a pivotal role in strengthening India’s rail infrastructure and is expanding its role as a diversified infrastructure financier. PVUNL, incorporated as a joint venture between NTPC Ltd. and Jharkhand Bijli Vitran Nigam Limited, is setting up a 4,000 MW coal-based thermal power project at Patratu in two phases. The Banhardih captive coal block, with estimated reserves of around 956 million tonnes, has been allocated to PVUNL for end use in this project. Coal from this block will be transported through the Indian Railways network, reinforcing the strong forward and backward linkage of the project with the railway sector.