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REC lends Rs 16,070 crore for Telangana power project

rec

Hyderabad: Rural Electrification Corporation today lent Rs 16,070 crore to Telangana government for a power project.

According to a press release from the Chief Minister’s office, the loan will fund the 4,000 MW Yadadri Thermal Power Project, being set up by Telangana State Power Generation Corporation Limited (TSGENCO) at Damcharla in Nalgonda district.

REC chairman and managing director Rajiv Sharma handed the cheque to Chief Minister K Chandrasekhar Rao here.

With this, the REC has so far lent Rs 20,391 crore for power projects in the state. It charges Telangana 11 per cent interest, against the usual rate of 11.5 per cent.

 

 

–PTI