NHPC to get Rs 4,500-cr loan from PFC, REC to revive Lanco Teesta project
NHPC is taking a loan of Rs 4,500 crore from state-owned lenders, Power Finance Corporation (PFC) and Rural Electricity Corporation (REC), for reviving the Lanco Teesta project in Sikkim.
With the signing of an agreement with a committee of creditors on Friday, the Union government-owned hydropower major has become the first public sector unit (PSU) to take over a stressed asset through a resolution process in the National Company Law Tribunal (NCLT).
The company has also put in an expression of interest for Jal Power, another insolvent hydropower unit with a capacity of 120 Mw in Sikkim, said Balraj Joshi, chairman and managing director, NHPC.
